wordpress blog stats
Connect with us

Hi, what are you looking for?

Tata Teleservices reports loss of Rs 480.75 crore in Q3FY18

Tata Teleservices

Tata Teleservices Maharashtra reported a loss of Rs 480.75 crore for Q3 ending December 2017 which is significantly lower than the loss of Rs 8198.31 crore the company reported last quarter. In the same quarter of the previous year, the company had reported a loss of Rs 414.74 crore. Note that this is company’s 29th loss-making quarter.

In terms of revenues, it fell down to Rs 419.36 crore in Q3FY18 from Rs 673.40 crore in the same quarter last year, representing a YoY decrease of 37.7%. There was a YoY dip of 2% in expenses as well with Rs 384.36 crore for this quarter. Note that the company had stopped providing segmented information on the contribution of VAS and data revenues to its total telecom operations revenue.

A loss of Rs 129.26 crore was attributed to restructuring costs this quarter (Q3FY18). In the previous quarter (Q2FY18), a massive Rs 7708.63 crore loss was blamed on impairment loss on its consumer mobile business.

The accumulated losses of the company exceed its paid-up capital and reserves.

Merger with Airtel

In October 2017, Bharti Airtel and the Tata Group agreed on an agreement to merge the Consumer Mobile Businesses (CMB) of Tata Teleservices Limited (TTSL) and Tata Teleservices Maharashtra Limited (TTML) into Airtel.

Advertisement. Scroll to continue reading.

This merger will be carried out on a debt-free cash-free basis, with one exception: Airtel will have to pay a part of Tata’s unpaid spectrum liability to the Department of Telecom (DoT), on a deferred basis. The current employees of TTSL and TTML will be demerged across the CMB business and the EFL (Enterprise and Fixed Line and Broadband) business, and are expected to be moved within the Tata Group at a later date.

Subscriber base

As of June 2017, TTML had 78,06,119 subscribers against 81,25,718 in May 2017. The users in wireline segment had increased the ones in the mobile segment had decreased in June 2017 when compared to May 2017 reported the infoline.

Written By

Writes about consumer technology, social media, digital services and tech policy. Is a gadget freak, gamer and Star Wars nerd.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ