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Tata Teleservices Maharashtra losses at Rs 108 Cr in Q1FY17

Tata Teleservices Maharashtra Ltd (TTML) losses narrowed to Rs 108.07 crore loss for the quarter ended 30th June 2016 (Q1 FY17), which decreased from Rs 159.34 crore loss in the previous quarter, and an increase from Rs 83.53 crore loss in the same quarter last year (Q1FY16). Note that this is the telco’s 24th straight loss making quarter. The net income from telecom services also decreased to Rs 722.97 crore for the quarter, up from Rs 722.34 crore in the previous quarter, and down marginally by 1.6% from Rs 735.09 crore in the same quarter last year. The EBITDA was at Rs 217 crore for this quarter, an increase of 29% over the same period last year. Note that the company has adopted Indian Accounting Standards for reporting Q1FY17 results. As per IAS standards, the total comprehensive loss for the quarter ended 30th June 2016 (Q1FY17) stood at Rs 127.45 crore, which increased 54% from Rs 82.38 crore in the same quarter last year (Q1FY16) The total income from overall operations was at Rs 734.91 crore for this quarter, down from Rs 732.85 crore in the previous quarter (Q4FY16), and down 2% from Rs 750.73 crore in the same quarter last year. Note that the company had previously stopped providing any information on the contribution of VAS and data revenues to its total telecom operations revenue. Fund infusion: Note that last month, Tata had approved an investment of Rs 3,000 crore into the loss making until Tata Teleservices Maharashtra Ltd  through redeemable preference shares last month. The board had met on…

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