Tata Teleservices (Maharashtra) Limited’s (TTML) net loss has significantly narrowed down from Rs 23.34 billion during the quarter ended (QE) September 2019 to Rs 3.41 billion during the QE September 2020.

The company’s total income stood at Rs 2.6 billion, around a 4.7 per cent decline as compared to Rs 2.73 billion in QE September 2019.

Further, the company also reported a decline in earnings before interest, taxes, depreciation, and amortisation (EBITDA) during the quarter to Rs 1.21 billion.

According to the company, the accumulation of losses as of September 30, 2020 exceeded its paid-up capital. The company has incurred net loss for the quarter and half year ended September 30, 2020 and the company’s current liabilities exceeded its current assets as at that date.