Tata Teleservices (Maharashtra) has announced its financial results for the quarter ended June 2021. The telco’s loss stood at Rs 3.18 billion for the first quarter ended June 30, 2021. The company had recorded a loss of Rs 10.69.26 billion in the same quarter a year ago.
TTML’s revenue from operations increased from Rs 2.43 billion during quarter ended June 2020 to Rs 2.68 billion during quarter ended June 2021, recording a year-on-year growth of 10.16 per cent.
The accumulated losses of the company as of June 2021 have exceeded its paid-up capital and reserves.
TTML has said that 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.
TTML has also made provisions for licence fee and the spectrum usage charge of Rs 7.66 billion for the quarter ended June 30, 2020, and Rs 7.79 billion for the year ended March 31, 2021.
