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Updated: Tata Teleservices reported Rs 4,887 crore loss in FY14

Tata Teleservices revenues

Corrigendum: We had done a conversion error in the earlier version of this story, which had led to erroneous numbers for the company’s revenues & loss numbers. We have corrected the figures now. Our apologies for the error.

Tata Teleservices Limited (TTSL) has reported net loss of ¥85,026 million (Rs 4,887 crore) for the year ended March 31, 2014 (FY14), an increase from ¥72,301 million loss (Rs 4,155 crore) in the previous year FY13, but an improvement from ¥95,813 million (Rs 5,506 crore) loss in FY12.

The operating revenues for the telco was at ¥227,582 million (around Rs 13,079 crore) for the year, registering a 8.3% increase from ¥210,092 million (Rs 12,074 crore) in the previous year FY13 and a 14.62% increase from ¥198,554 million (Rs 11,411 crore) in FY12.

It’s worth noting that TTSL is an unlisted company unlike its sister company Tata Teleservices Maharashtra Limited (TTML) which is listed on BSE. While TTML is operational only in Goa, Maharashtra and Mumbai circles, it along with TTSL provides mobile services under the Tata DOCOMO brand in the country.

TTML had reported (pdf) a loss of Rs 159.4 crore in the previous quarter (Q2-FY15), which was the telco’s 17th straight loss making quarter. The revenues from telecom services also dipped marginally to Rs 682.4 crore for the quarter, from 687.5 crore revenues in the preceding quarter.

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Impairment charges: NTT Docomo said that it has also recognised an impairment charges of ¥51,244 million (Rs 2,715.2 crore) in the fiscal FY14 and ¥6,813 million (Rs 361 crore) in the fiscal FY13.

NTT Docomo’s International arbitration charges

Earlier this week, NTT Docomo requested the London Court of International Arbitration to ensure that Tata Sons find a suitable buyer for Docomo’s 26.5% stake in Tata Teleservices Limited (TTSL). The company said that it filed this arbitration request after Tata Sons failed to fulfill its obligation, despite its repeated negotiations on the sale of its entire stake.

This was after the company had exercised its option to sell its entire 26.5% stake in Tata Teleservices for Rs 7,250 crore (about 50% of the acquisition price) or a fair market price, whichever was higher, in April last year. More on that and a NTT Docomo & Tata Teleservices timeline here.

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