Mahanagar Telephone Nigam (MTNL) has decided to give up wireless broadband airwaves and selling surplus land, in order to improve its financial situation as it plans to make profits by March 2013. It has requested the government not to withdraw its Navratna status as it has the revival plans.
The entity had posted loss of Rs 2,610.97 crore in 2009-10, Rs 2,801.92 crore in 2010-11 and Rs 4,109 crore in 2011-12. To retain the coveted Navratna status, the PSU firm has to be a profit-making company.
