Tata Tele (Maharashtra) posts Rs 2,335 crore loss for Sept quarter

Representative Image

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 per cent 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 Hon'ble 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 per cent compared to previous close, at the BSE on Friday.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel