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Tata Tele makes Rs 3,846-cr loss in FY15 due to high finance costs

Its revenues increased marginally to Rs 10,944 crore from Rs 10,452 crore in 2013-14

Tata Teleservices’ woes continued with the company reporting a Rs 3,846-crore loss in 2014-15. Tata Sons, the group holding company, infused Rs 1,025 crore on the last day of the financial year, so that Tata Teleservices could meet its financial obligations. Tata Teleservices’ revenues increased marginally to Rs 10,944 crore from Rs 10,452 crore in 2013-14, when the Tata group pumped in Rs 2,500 crore through compulsorily convertible preference shares. In 2013-14, the company made a record loss of Rs 6,166 crore, with its net worth completely eroded.  An email sent to ...