Tata Tele's Q3 net loss widens to Rs 197 cr

However, company's revenue up by over 4% to Rs 651 cr

Tata Teleservice (Maharashtra) today said its net loss has widened to Rs 197.16 crore in the three months ended December 2012, mainly due to foreign exchange related accounting adjustments and financing costs.

Tata Teleservice (Maharashtra), which provides telecom services, had reported net loss of Rs 144.62 crore for the same period a year ago.

In the period under review, the company's finance cost stood at Rs 138.20 crore and it incurred a charge of Rs 91.74 crore related to accounting adjustments in foreign exchange.

There was also an increase in network operation cost by 27% at Rs 159.43 crore during the reported quarter compared to Rs 125.29 crore for the same period a year ago.

The revenue, however, increased by 4.19% to Rs 651 crore from Rs 624.72 crore in the year ago period.

"The company maintained a strong focus on wireless broadband services. Its VAS (Value added services) and data revenues accounted for 37% of total wireless revenues in Q3 FY13," the company said in a statement.