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TTML narrows loss YoY in Q1 2018; plans to monetise assets for funds

August 08, 2018
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Tata Teleservices Maharshtra’s (TTML) loss has declined to Rs 4.54 billion during the quarter ended June, 2018 from Rs 5.06 billion during the quarter ended June 2017. The accumulated losses of TTML exceeded its paid up capital and reserves in the quarter ended June, 2018.

Revenue from operations witnessed a decline of 39.5 per cent from Rs 5.53 billion in Aril-June, 2017 to Rs 3.34 billion in April-June, 2018.

Exceptional items during the quarter include a restructuring cost of Rs 903 million; down from Rs 1.35 billion in the quarter ended March 2018 and Rs 2.64 billion for the year ended March 2018.

Further, the company is also in talks to monetise certain assets, and use the proceeds to meet financial obligations. TTML has also secured support from its promoters, who have indicated their willingness to arrange for any liquidity shortfall in meeting financial obligations and repayment of debt.

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