TTML Q3 net loss widens to Rs 103 cr

Tata Teleservices Maharashtra (TTML) posted a net loss of Rs 103.29 crore for third the quarter ended December 31, 2009, as compared to Rs 48.54 crore in the year-ago period.

The private telecom services provider's Q2 FY10 net loss was at Rs 116 crore.

"The company posted a revenue growth of 16 per cent to Rs 603 crore as compared to Rs 518 crore in the year- ago period. The revenues are at an all-time high of Rs 1,666 crore for the nine months ended December 31, 2009," TTML Managing Director Mukund Rajan told reporters here today.

The Tata Group firm has achieved a sequential quarterly EBIDTA growth of 11 per cent, which is the 19th consecutive quarter of EBIDTA positive, he said.

The company registered an EBIDTA (earnings before interest, taxes, depreciation and amortisation) of Rs 135 crore with an EBIDTA margin of 22 per cent in the quarter under review as compared to Rs 151 crore for the year-ago period and Rs 121 crore for the immediate preceding quarter.

The launch of GSM service Tata DOCOMO has given a significant boost to the subscriber additions and revenues, Rajan said.

The subscriber base at the end of the third quarter stood at 11.5 million, an increase of 74 per cent over the corresponding quarter of the previous year.

TTML's Rest of Maharashtra circle has crossed 7 million wireless subscribers to become the second-largest operator in that circle. Mumbai circle has crossed 4 million subscribers to become the third-largest operator in this circle, he said.

Wireless minute of use grew by 39 per cent over the corresponding quarter of the previous year.

The company is in a wait-and-watch mode to see what happens in the auction of 3G airwaves, he said.

"We are in a wait-and-watch mode. We have already got the shareholders' approval to raise $250 million for the 3G auction," Rajan said.

The tenancy rate of 21st Century Infra Tele Ltd, the tower arm of TTML, as at December 31, 2009, was at 2.1, he said.

The company has 2,272 towers under its possession.