Tata Teleservices Maharashtra Ltd (TTML) continues to report losses: Rs 155.67 crore loss for the quarter ended September 30, 2015, up from Rs 103.31 crore loss in the previous quarter and down from Rs 159.38 crore loss in the same quarter last year. Note this is the telco’s 21st straight loss making quarter.
The net income from telecom services also decreased to Rs 733.18 crore for the quarter, down from Rs 735.09 crore in the previous quarter and Rs 682.42 crore the same quarter last year. The EBITDA was at Rs 210.49 crore for this quarter. Overall for the half year ended September 30, 2015, the company reported a loss of Rs 258.9 crore, down from Rs 282.29 crore the same period last year.
The total income from overall operations was at Rs 746.64 crore for the quarter, however the telco did not mention its total revenues and it had previously stopped providing any information on the contribution of VAS and data revenues to its total wireless revenues. However, the company mentioned that the GSM data revenue for H1 FY16 grew by about 60% year on year.
Offer to buy stake : In July, Tata Sons offered to buy Japanese telecom player NTT Docomo’s stake in Tata Teleservices Limited for Rs 23.34 a share or at around Rs 11,000 crore. The offer was made on the basis of a fair market value determined on June 30, 2014. Earlier in March, the Reserve Bank of India (RBI) had rejected Tata Sons’ offer to buy back Docomo’s shares at the pre-agreed valuation of Rs 58 a share (~Rs 27,000 crore for the stake).
In January, NTT Docomo had requested the London Court of International Arbitration to ensure that Tata Sons finds a suitable buyer for Docomo’s 26.5% stake in Tata Teleservices Limited (TTSL).
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.
– In December, Tata Docomo launched a new device called the ‘Photon Max WiFi Duo’ priced at Rs 2899, which enables Wi-Fi internet on the go. The device also features a 4400 mAh battery power bank and comes with a 32GB MicroSD card slot, which acts as personal cloud storage.
– In March, the company revealed plans of setting up 4,000 WiFi hotspots in nine cities across India over the next two years.
– The same month, the company tied up with the networking and telecom equipment company Nokia Networks, to upgrade its 3G network to HSPA+ in Karnataka, Haryana and Punjab circles.
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