After posting a healthy profit of Rs 557.8 crore in the June quarter today as against a Rs 23-crore loss in the year-ago quarter, Tata Teleservices Maharashtra (TTML) said it has lined up a capex of Rs 900 crore for the current fiscal to fuel its business.
"We will be pumping Rs 900 crore into our GSM and CDMA operations as also the third-generation (3G) services in the current fiscal in the Maharashtra and Goa circles," Tata Teleservices Maharashtra (TTML) Managing Director Anil Kumar Sardana told reporters here after announcing the Q1 numbers.
"We will continue to be the largest private telephone operator in both the circles," Sardana said.
The company today reported a profit after tax (PAT) of Rs 557.8 crore for the June quarter, mainly on account of the profit from sale of its tower subsidiary during the quarter as against a net loss of Rs 23 crore in the year-ago period.
The company's revenue grew to Rs 563 crore, a 10 per cent jump over the corresponding quarter last fiscal. "We have done excellently well in the June quarter. We expect good growth numbers in the remaining quarters," Sardana said.
"The company commenced GSM operations only in August 2009, therefore,the Q1 results are not strictly comparable," the company said.
"We have won the 3G bid for the Maharashtra and Goa circles (excluding Mumbai) and expect to launch the services before the end of this year," Sardana said, adding, "our GSM operation has been in loss but will make profit after three years."
The company's subscriber base stood at 13.9 million during the reporting quarter, a rise of 74 per cent over the corresponding quarter last fiscal. Its gross minutes of usage of wireless services increased by 44 per cent in the June quarter over the corresponding quarter last year.
The company's wireless broadband service, Photon Plus with VAS and data services increased data revenues to Rs 18.5 per cent of total wireless revenues in the reporting period.
