Tata Teleservices Limited (TTSL) has reported a net loss of Rs 2.75 billion during quarter ended December 2019. This is however, lower than Rs 4.09 billion worth of net losses it had reported during quarter ended December 2018.
Further, TTSL’s total revenues for the period under consideration stood at Rs 2.59 billion, recording a year on year (YoY) decline of 20 per cent. Meanwhile, its earnings before interest tax depreciation and amortisation (EBITDA) stood at Rs 1.34 billion, recording a YoY increase of 49 per cent.
Further, as per the company, the liabilities/provisions pertaining to AGR matter as on December 31, 2019 stood at Rs 21.51 billion.
TTSL’s parent company, Tata Sons, has assured that it will arrange funds for the distressed arm to meet its business requirements for the coming year.
Moreover, TTSL had made additional provision of Rs 21.51 billion during the QE December 2019 pertaining to its adjusted gross revenue (AGR) dues. This was up from Rs 191.9 billion provisioned in the quarter prior to this.