Tata Tele (Maharashtra) Posts Rs 2335 Crore Loss For Jul-Sep

Telecom operator Tata Teleservices (Maharashtra) on Friday posted a loss of Rs 2,335 crore on account of provisioning for liabilities after the Supreme Court ruling on statutory dues.

The company had recorded a loss of Rs 383.06 crore in the same period a year ago.

Tata Teleservices ( Maharashtra) Limited (TTML) made provision of Rs 2,151 crore following the Supreme Court order on calculation of annual adjusted gross revenue (AGR) of telecom companies.

The apex court last month upheld the government’s position on including revenue from non-telecommunication businesses in calculating the annual AGR, a share of which has to be paid as licence and spectrum fee to the exchequer.

The revenue of TTML declined by about 16 percent to Rs 270.35 crore during the reported quarter from Rs 321.84 crore in the corresponding quarter of 2018-19.

Though the company has demerged its consumer mobile business, the Department of Telecom has not taken the same on record.

“The Company understands that DoT has filed Special leave Petitions against BAL (Bharti Airtel) in Honable Supreme Court challenging interim orders of TDSAT,” TTML said in a note.

Shares of TTML closed at Rs 2.71 a unit, down by 3.56 percent compared to previous close, at the BSE on Friday.―Outlook India