Total expense jumped 3.94% year on year to Rs 1,174.79 crore in Q3 FY24. License fees and spectrum charges stood at Rs 16.39 crore (down 24.71% YoY) while employee benefit expense was at Rs 153.76 crore (up 18.44% YoY) and finance cost stood at Rs 690.57 crore (up 16.60% YoY) during the period under review.

Mahanagar Telephone Nigam is engaged in providing telecom services in the geographical area of Mumbai and Delhi.