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Tata Tele (Maharashtra) Loss Narrows To Rs 229 Crore In June Quarter

Tata Teleservices (Maharashtra) Ltd on Wednesday said its net loss nearly halved to Rs 228.85 crore in the June quarter 2019-20. The loss in the year-ago period stood at Rs 455.4 crore, according to a regulatory filing.

Total income of of the company for the just concluded June quarter came in at Rs 295.2 crore, almost 12 percent lower than the year-ago period. Consumer mobile business (CMB) of Tata Teleservices became part of telecom operator Bharti Airtel, a joint statement by the two companies had said on July 1.

In its results filing, Tata Teleservices (Maharashtra) said that exceptional items during the recent June quarter included a restructuring cost of Rs 2.26 crore. Also, it said that as on June 30, 2019, the company has “reviewed the recoverable amount of its CMB assets based on fair value less costs to sell and recorded Rs 184.47 crore as partial reversal of impairment recorded during the year ended March 31, 2018 and disclosed the same as an exceptional item for the quarter ended June 30, 2019.―Devdiscourse

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