Tower biz sale makes TTML profitable; Rs 900 cr capex this year

Tata Teleservices Maharashtra (TTML) has, for the first time, posted profits, thanks to the windfall from the sale of its tower business. Its net profit was Rs 558 crore as compared to a net loss of Rs 23 crore made in the same quarter last year. Its total revenues went up by 174 per cent to Rs 1,395 crore for the quarter, as compared to Rs 509 crore last year. The company had sold its tower subsidiary, 21st Century Infra, for Rs 1,318 crore to Quippo Telecom Infrastructure in March. Its income from telecom revenues for the quarter was Rs 552 crore.