TTML Q4 net loss swells to Rs 1,366 cr on impairment hit

Net loss of Tata Teleservices (Maharashtra) Limited widened to Rs 1,366 crore for the quarter to March 2017 after booking an impairment charge of Rs 905 crore related to 800 Mhz spectrum.
The company reported net loss of Rs 343.39 crore in the same quarter a year ago.
"The company has evaluated the value of the 800 Mhz spectrum acquired in the auction of March 2015 as per the requirement of Ind AS 36, recorded an impairment loss of Rs 905.41 crore and disclosed the same as an exceptional item," Tata Teleservices (Maharashtra) (TTML) said in its results note.
800 Mhz is used for providing CDMA mobile service and some operators also use it for 4G operations.

Total income declined 16.91 per cent to Rs 615.03 crore during the period under review, from the earlier Rs 740.22 crore.
For the year ended March 2017, net loss of TTML widened to Rs 2,356.47 crore, from Rs 358.34 crore in 2015-16.
Total income for 2016-17 came down by about 8 per cent to Rs 2,761.38 crore, from Rs 2,999.08 crore in the previous fiscal.
The stock of TTML closed lower by 0.38 per cent at Rs 7.84 on the BSE today.