• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

Mumbai , Oct. 20

TATA TeleServices (Maharashtra) Ltd has reported a 71 per cent growth in revenue for the quarter ended September 30 to Rs 147.3 crore from Rs 86.34 crore for the corresponding year-ago quarter; while losses expanded to Rs 65.66 crore from Rs 28.84 crore.

The company has acquired more than 1 lakh CDMA lines since the launch of the service in August this year, with the total lines in service at 3.39 lakh, said a news release.

Operating profit was lower as well, at Rs 7.54 crore, down from Rs 17.11 crore reported for the corresponding quarter of the previous year. "This was on account of costs incurred by the company as part of the launch of CDMA services in Maharashtra," said an official with the company.

Marketing and sales promotion exercises cost Rs 14.75 crore as against Rs 1.97 crore during the second quarter of the previous year. `Administration and other expenses' too were higher, at Rs 29.55 crore (Rs 13.41 crore). EBITDA of Rs 8.09 was lower than that of the year-ago quarter's, at Rs 18.99 crore.

Capital expenditure for the CDMA rollout also resulted in an increase in interest and depreciation charges increasing the net loss for the quarter.

TTML has announced that it has achieved financial closure in September this year, with the signing up of term loans of Rs 1,350 crore with a consortium of 16 banks and financial institutions. Net profit for the half-year ended September 30 increased to Rs 109.92 crore, up from Rs 58.5 crore

Article E-Mail :: Comment :: Syndication

Stories in this Section
Net App plans focus on entry-level storage market

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line