TTML zooms 71% in one week on Q4 profit, fundraising plan of Rs 35K crore

The company reported a net profit of Rs 580 crore in the March quarter (Q4FY19) against a net loss of Rs 680 crore in the year-ago period.

Shares of Tata Teleservices (Maharashtra) (TTML) were locked in the upper circuit for second straight session on Monday, having jumped 10 per cent intra-day to hit Rs 4.57 apiece. It has surged 71 per cent in the past one week on the BSE after the company reported net profit of Rs 580 crore in March quarter (Q4FY19) against a net loss of Rs 680 crore last year.

The company also reported an exceptional gain of Rs 510 crores on partial reversal of impairment, recorded during the previous year.

"The accumulated losses of the company as of March 31, 2019, have