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Tata Teleservices Maharashtra losses surge to Rs 1365 Cr in Q4FY17

Tata Teleservices Maharashtra Ltd (TTML) has reported losses of Rs 1365.57 crore for the quarter ended March 31, 2016 (Q4 FY17), which more than doubled from Rs 414.74 crore loss in the previous quarter. The company had posted a loss of Rs 21.98 crore in the same quarter last year. The telco said that its losses increased significantly this quarter due to an impairment loss of Rs 905.4 crores arising from the revaluation of 800 MHz spectrum that the telco acquired in March 2015.

Note that this is the telco’s 26th straight loss-making quarter. Even as losses more than doubled, the company’s revenue also fell considerably. In this quarter, revenue from TTML’s telecom services decreased to Rs 596.53 crore, down 10.4% from Rs 658.66 crore in the preceding quarter, and down 10% YoY from Rs 724.51 crore in the same quarter last year. The company’s EBITDA stood at Rs 127 crore for this quarter, a decrease of 44.8% over the last quarter.

The company had adopted Indian Accounting Standards for reporting since Q1FY17. As per IAS standards, the total comprehensive loss for the quarter (Q4FY17) stood at Rs 22.46 crore, which decreased from Rs 76.94 crore loss in the preceding quarter.

Net income from TTML’s overall operations for the quarter stood at Rs 615.03 crore, down marginally from Rs 673.4 crore in the previous quarter, and down 20.3% from Rs 740.22 crore in the same quarter last year. Note that the company had stopped providing segmented information on the contribution of VAS and data revenues to its total telecom operations revenue.

Subscriber base

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During Q4FY17, the telco had 551,983 subscribers and 2.59 million mobile subscribers in Mumbai circle. It also had 309,408 wireline subscribers and 4.68 million mobile subscribers in Maharashtra.

In the previous quarter, the telco had 529,968 wireline subscribers and 2.75 million mobile subscribers in Mumbai circle. It reported 282,870 lakh wireline subscribers and 5.04 million mobile subscribers in Maharashtra.

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