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Tata Teleservices Maharashtra losses narrow to Rs 79.64 crore in Q3 FY16

Mobile tower

Tata Teleservices Maharashtra Ltd (TTML) losses narrowed to Rs 79.64 crore loss for the quarter ended December 31, 2015 (Q3 FY16), down from Rs 155.67 crore loss in the previous quarter and down from Rs 169.08 crore loss in the same quarter last year. Note this is the telco’s 22nd straight loss making quarter.

The net income from telecom services also decreased to Rs 724.51 crore for the quarter, down from Rs 733.18 crore in the previous quarter and up marginally from Rs 720.85 crore the same quarter last year. The EBITDA was at Rs 220 crore for this quarter, an increase of 41% over the same period last year. Overall for the nine months ended December 31, 2015, the company reported a loss of Rs 339 crore, down from Rs 451 crore the same period last year.

The total income from overall operations was at Rs 741.88 crore for the quarter. However, the  had previously stopped providing any information on the contribution of VAS and data revenues to its total wireless revenues.

Number of subscribers

TTML mentioned that the total number of subscribers in the Mumbai circle were 38,00,602. The number of wireline subscribers were 528,675; the number of wireless subscribers were 33,66,490; the number of fixed wireless terminals were at 5,437.

In the Maharashtra circle, the total number of subscribers were 67,11,453. The number of wireline subscriber were 2,81,597; the number of wireless subscribers were 57,36,558; the number of fixed wireless terminals were at 6,93,735.

CFO resigns

The company also mentioned that Harish Abichandani resigned as chief financial officer. His resignation comes into effect on February 10, 2016.

Download: Press release and financials

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