Telecom operator Tata Teleservices (Maharashtra) today reported widening of loss to Rs 8,194.67 crore in the second quarter ended September 30, mainly on account of writing off its consumer mobile business.
The company had posted a loss of Rs 452.82 crore in the same period a year ago.
Tata Teleservices (Maharashtra) (TTML) impaired Rs 7,708.63 crore for its mobile business which it is transferring to Bharti Airtel.
"The company has recorded Rs 7,708.63 crore towards impairment loss during the quarter and half year ended September 30, 2017 on its consumer mobile business (CMB) assets based on assessment of its recoverable value," TTML said in its result report.
In the last quarter of previous fiscal, the TTML had written off Rs 905.41 crore for spectrum it acquired in auction that was conducted by the Department of Telecom in 2015.
TTML reported 29 per cent decline its total income to Rs 516.52 crore in the reported quarter from Rs 727.54 crore it posted in same quarter of 2016-17.
Shares of TTML closed at Rs 7.11 a unit, up by 3.34 per cent compared to previous close, on BSE today.
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