Tamil Nadu Tele loss narrows to Rs 1.08 crore

Tamil Nadu Telecommunications Ltd reported a loss of Rs 1.08 crore during second quarter of the current financial year as compared with Rs 1.28 crore for the corresponding period a year ago. The company hopes the orders would improve as the optical fibre cable (OFC) market was picking up. It stated the accumulated losses had exceeded its net worth again in 2011-12. The BIFR had approved a sanctioned scheme for it in 2010-11. It is now under re-habilitation period and being monitored by BIFR.