TTML narrows down net loss to Rs 156.36 cr in Q3

Press Trust of India Posted online: Thursday, Jan 30, 2014 at 0000 hrs
New Delhi : Tata Teleservices (Maharashtra) Ltd (TTML) has narrowed down its net loss to Rs 156.36 crore for the third quarter ended December 31, 2013.

The company had reported a net loss of Rs 197.16 crore in the corresponding period last financial year, the company said in a filing to the BSE today.

Total income of the company rose 6.6 per cent to Rs 711 crore for the reported period as compared to Rs 667 crore in the same period last fiscal.

The company said its earnings before interest, tax, depreciation and amortisation, or EBITDA, stood at Rs 148 crore for the quarter in review.

"The provision for contingencies (approx Rs 65 crore) is primarily towards the outstanding claims/litigations against the company relating to Department of Telecommunication and other parties," the filing said.

TTML said it is constantly enhancing its network reach and coverage both through organic expansion as well as through partnerships with other operators.

"TTML has enhanced its network coverage by an additional 1,500 cell sites and extending services to an additional 900 towns," it added.