Mumbai: Tata Teleservices (Maharashtra) Ltd’s (TTML’s) net loss increased to Rs.197.16 crore in the December quarter, as the company set aside more money to account for claims and legal cases against it.
TTML had posted a net loss of Rs.183.71 crore for the preceding July-September period, and a Rs.144.62-crore loss for the corresponding December quarter a year earlier.
Revenue rose 5% to Rs.665 crore from Rs.634 crore a year ago.
But earnings before interest, taxes, depreciation and amortization, or Ebitda, dropped to Rs.90 crore from Rs.108.96 crore a year earlier as TTML made an additional provision of about Rs.72 crore primarily towards outstanding claims and litigations, the company said in a statement on Monday.
TTML said it maintained a strong focus on wireless broadband services. Value-added services and data revenue accounted for 37% of the company’s total wireless revenue in the third quarter.
The TTML stock ended Monday nearly unchanged at Rs.12.32 on BSE. The Sensex too remained flat at 20,103.35 points.