Tata Tele (Maha) Q3 loss at Rs 69.4 crore

Tata Teleservices Maharashtra (TTML) has reported a net loss of Rs 69.40 crore for the quarter ended December 31, 2003 against Rs 21.72 crore for the corresponding period of the previous year.

Revenues grew 72 per cent to Rs 163.25 crore (Rs 94.65 crore). Operating profit (excluding other income) rose to Rs 18.25 crore (Rs 16.29 crore). EBITDA (including other income) fell to Rs 19.44 crore (Rs 21.09 crore).

"This was mainly driven by promotional expenses by the company as a part of its CDMA launch in Maharashtra. The capital expenditure for the CDMA services rollout resulted in an increase in interest and depreciation charges," the company said in a statement.

TTML is also working on a substantial expansion of its CDMA network. TTML managing director S Ramakrishnan said: "Favourable government regulations and the unified licensing regime have opened up several opportunities for TTML.We intend to take advantage of this to offer full roaming and a host of other features to our customers".