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TTML Q1 loss narrows Rs 318.45 cr; revenue up 10%

Telecom operator Tata Teleservices (Maharashtra) on Tuesday reported narrowing of its loss to Rs 318.45 crore for the first quarter ended June 30.

The company had recorded a loss of Rs 1,069.26 crore in the same quarter a year ago.

Tata Teleservices (Maharashtra) Limited (TTML) revenue from operations increased by 10.16 per cent to Rs 268.03 crore during the quarter, from Rs 243.3 crore in the year-ago period.

The accumulated losses of the company as of June 2021 have exceeded its paid-up capital and reserves.

TTML said it has obtained a support letter from its promoter, indicating that the promoter will take necessary actions to organise for any shortfall in liquidity during 12 months from the balance sheet date.

“Based on the above, the company is confident of its ability to meet the funds’ requirement actions to organise for any shortfall in liquidity during the period of 12 months from the balance sheet date,” TTML said.

During the reported quarter, TTML made provision towards licence fee and the spectrum usage charge of Rs 766.77 crore for the quarter ended June 30, 2020, and Rs 779.81 crore for the year ended March 31, 2021. PTI

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