Financial Daily from THE HINDU group of publications
Saturday, May 20, 2006
Financial Daily from THE HINDU group of publications Saturday, May 20, 2006 |
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Corporate Results
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Telecommunications Info-Tech - Financial Performance Tata Tele Maharashtra Q4 net loss narrows Our Bureau
Mumbai , May 19 Tata Teleservices Maharashtra has reported its first-time quarterly cash profit as well as reduced net loss for the three months ended March 31, 2006. Net loss for the fourth quarter amounted to Rs 151.76 crore against Rs 177.96 crore during the corresponding quarter of the previous fiscal. The company reported a cash profit of Rs 26 crore against a cash loss of Rs 69 crore. Revenues for the quarter grew 42 per cent to Rs 307 crore (Rs 216.36 crore). Higher revenues as well as lower expenditure (notably on administrative costs) helped to improve the company's EBIDTA which was Rs 55 crore against a loss of Rs 25.08 crore. Net loss for the year widened to Rs 541 crore (Rs 527.86 crore) while revenues rose 74 per cent to Rs 1,095 crore. The company is the listed subsidiary of unlisted pan-India telephony access services provider Tata Teleservices Ltd. The company's stock slid on the bourses on Friday, closing at Rs 23.15, 7 per cent lower than Thursday'ss closing price of Rs 24.90.
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