ttmlTata Teleservices Maharashtra Ltd (TTML), the sister company of Tata Teleservices Ltd (TTSL) now has 8 million connections, up from 7.49 million in March. TTML is operational in Goa, Maharashtra and Mumbai circles and offers landlines, mobile connectivity (CDMA) and wireless broadband services (Photon+). TTML also owns GSM licenses for these circles and is expected to roll out Tata DoCoMo GSM network next quarter.

TTML’s mobile business saw a 9% rise in net profit before tax to Rs. 410.1 million, compared to last year’s. Net sales grew to Rs. 5092.8 million.

Details: Release | Standalone Financials | Consolidated

Value Added Services & Photon+

VAS and data revenues, which includes the data service Photon+, now contribute to 15.4% of the company’s wireless revenues compared to 12.3% a year ago in Q1-09. That’s significantly higher than other telecom operators for whom, data and other VAS contribute around 10%.

During the quarter, TTML launched Quickfinder, an assisted GPS service in Mumbai and Pune. It also partnered with Yahoo to launch a new, monetized portal that would be the default homepage for its broadband and mobile Internet users.

Tower

The company’s passive infrastructure division saw a ten fold growth compared to last year, with profit before tax of Rs. 4.6 million and corresponding growth in net sales to Rs. 164 million.

Consolidated Results

The company’s EBITDA grew 19% on a QoQ basis, and EBITDA margin stood at 31%. Its net loss reduced by 12.7% to Rs. 342.6 million while network operating costs amounted to Rs. 1065.3 million, up 29.5% from last fiscal. There was a slight reduction in consolidated net sales (by 1.48%) to Rs. 4708.5 million, year on year.

Subsidies offered by the department of telecom (DoT) towards the opertor’s Universal Service Obligation were Rs. 238.7 million compared to Rs. 224 million in Q109. Marketing expenses were cut down to Rs. 644.6 million. Basic EPS rose to -Rs.0.16 from -Rs.0.18.

Also, the holders of foreign currency convertible bond (FCCBs) worth $ 13.24 million have redeemed them at a premium of 19.38%. The company reports there are no outstanding FCCBs.

Standalone Results

The company’s net loss has reduced 33.5% to Rs. 230.6 million over net sales of Rs. 4682 million for the first quarter of fiscal 2010. Net sales fell by 2% year on year. Expenses showed a marginal increase to Rs.4682.7 million and EPS rose to -Rs. 0.12 from -Rs.0.18. Network operational costs rose by 34.1% to Rs. 1103.3 million while net marketing and business promotion expenses fell 9% compared to last year.

Note: A QoQ comparison was not performed as the company only published FY results last quarter.