Tata Teleservices Maharashtra Reports Rs 481.43 Crore Net Loss in Q1

Tata Teleservices Maharashtra Limited (TTML), which has the license to provide services in Maharashtra and Goa, on Tuesday reported a net loss (before exceptional items) of Rs 481.43 crore for its first quarter ended June 30, 2017, against net loss of Rs 108.07 crore in the same period last year. The company’s total comprehensive loss, however, stood at Rs 506 crore in the first quarter, as per the BSE filing.

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TTML, which offers CDMA, GSM and 3G services, reported Rs 554.15 crore income from operations for the quarter, which has declined 7% from the previous quarter. It reported EBITDA of Rs 120 crore for the quarter, which has declined 6% from the previous quarter.

TTML had last month received a nod from its Board of Directors for the proposal to raise up to Rs 1,300 crore through a mix of preference shares and debentures.

According to various media reports, Tata Sons is infusing Rs 12,000 crore more into Tata Teleservices, which will allow the telco to repay its debt and improve its financial metrics. The infusion is approved by the board led by Group Chairman N Chandrasekaran, who is working on devising a strategy for TTSL to help its navigate the competitive landscape.

The latest investment follows infusion of Rs 2,000 crore into Tata Teleservices in the financial year 2016-17.

Notably, the infusion development comes amid the speculation that Tata Teleservices’ merger talks with Reliance Jio after similar talks with Bharti Airtel fizzled out, according to reports.

Tata Teleservices recently reportedly approached its lenders, including the State Bank of India (SBI), to seek a restructuring of its debt, becoming the second telco to seek debt restructuring after Anil Ambani-owned Reliance Communications (Rcom). The telco wants bankers to restructure about Rs 30,000-crore of its total Rs 40,000-crore debt, which includes Rs 8,000-crore of deferred spectrum payments, according to a report by Business Line.

The Tata Group-owned telecom company has sought an extended maturity of 20 years for repayments. The telco has also requested for a fresh loan of Rs 5,000 crore, which it wants to use for operational and capital expenditure (capex) needs at a time when it is struggling to grow and stay relevant in a highly competitive telecom market.

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23 Comments on "Tata Teleservices Maharashtra Reports Rs 481.43 Crore Net Loss in Q1"

 

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[…] into an agreement to merge Consumer Mobile Businesses (CMB) of Tata Teleservices Limited (TTSL) and Tata Teleservices Maharashtra Limited (TTML) into Bharti […]

Jio lover
August 10, 2017 5:26 am 5:26 AM

Off topic

Can i port my airtel delhi no. To bsnl up west circle

Plz provide answer

Thanks..

Comment awaiting

Vishal
August 10, 2017 10:10 am 10:10 AM

Yes u can port it. Just go to any BSNL shop along with ur airtel number, port code and ur documents.They will do it.

saket
August 9, 2017 11:25 pm 11:25 PM
my first SIM purchased by me in year 2006 .was tata indicom- now at TATADocomo(t24). that is TTML-maharshatra circle. I still using same number bcoz all my bank sms and whatsapp working with same. but not giving any income to docomo and just widening loss. – Didnt used more rs20/month, that to received freely from shopping on big bazaar. I am expecting docomo to sell to BSNL, and both together launch 4G on 700 and 850 band. along with strengthening 2G network. from year 2008-2012, tata was survivor bcoz of ultra cheap plan in EVDO, and later excellent 2G speed… Read more »
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