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Tata Teleservices Maharashtra Q2-11: Losses Reduce By 9.3%

Update: From an analyst presentation we just received from TTML, prior to its earnings concall:
– VAS and data now contribute 22% of TTML’s wireless revenues. This is up from 18% at the end of last quarter. During the quarter, PlanPhoton Plus offers users 10 GB with night surfing free at Rs.1999, and Unlimited usage (with Fair Usage Policy?) at at Rs.999.
– Total Subscriber base crossed 15 million, which includes 700,000 wireline subscribers. TTML has crossed 5 million wireless subscribers mark in Mumbai, and 9 million in rest of Maharashtra.
– The company reported EBITDA of Rs. 118 crore, flat from the previous quarter, and EBITDA margin of 20%.
– TTML’s GSM subscriber base is 5.673 million, while its CDMA base is 8.699 million

– 95% of its subscribers are prepaid.
– While it hasn’t listed its active revenue earning customers, its ARPU (Revenue earning customers) was Rs. 170
– For its active revenue earning customers, minutes of use were 403 per month.
– For the quarter, TTML had an inordinately high post paid company initiated churn, of as much as 6.4%.

Yesterday: Tata Teleservices Maharashtra Ltd (TTML) has reported losses of Rs. 97.9 crore for the quarter ended September 30th 2010, down 9.34 percent from a loss of Rs. 107.98 crore reported for the same quarter last year. Revenues, for the same period, were up 7.1% to Rs. 576.29 crore. The results are not comparable with the previous quarter, since it booked Income from the sale of investment in its Tower Subsidiary 21st Century Infra Tele Limited to Wireless-TT Info Services.


We’ll have more updates from TTML’s conference call tomorrow, and perhaps a press release. Do keep in mind that Tata Teleservices plans to launch 3G services in a few days time, and it has 3G spectrum for Maharashtra & Goa, though not for Mumbai. Also worth noting that Maharasthra and Mumbai are not among Tata Teleservices’ top three circles. As we had reported earlier, TTL’s top three circles (as per Adjusted Gross Revenue filings with TRAI) are Andhra Pradesh (Rs. 303.99 crore, 13.08% of AGR), Delhi (Rs. 241.37 crore, 10.39% of AGR) and Karnataka (Rs. 238.79 crore, 10.27% of AGR).

Download: Standalone Results for Q2-11

Related:
Q1-11: Tata Teleservices Maharashtra VAS & Data At 18.5% Of Wireless Revenues
Where’s The Money? Top Telecom Circles In India By Revenue – March-June 2010
Tata Docomo To Launch 3G Across 9 Circles In India On Diwali

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