TTML loss down 11.20% to Rs 128 cr

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Tata Teleservices (Maharashtra) Ltd (TTML) has posted a lower net loss of Rs 128.96 crore in the third quarter ended December 31, 2005, compared with a net loss of Rs 145.23 crore recorded during the same period of the previous fiscal.

The CDMA major has posted total revenues of Rs 289.80 crore, up 51.35 per cent from Rs 191.47 crore recorded during the comparable period a year ago.

Revenues from telecommunication services posted a 52 per cent growth at Rs 289.16 crore during the quarter under review, as against Rs 190.80 crore recorded during the corresponding quarter of previous year.

EBIDTA for the quarter stood at Rs 33.58 crore, as against a loss of Rs 50.89 crore during the same quarter last year, TTML said in a release here today.

The EBITDA gains were achieved owing to 52 per cent surge in revenues and operational efficiency initiatives. The company's finance charges rose to Rs 41.84 crore from Rs 19.88 crore, owing to a fluctuation in foreign exchange.

Its depreciation charges were higher at Rs 120.71 crore as against Rs 74.47 crore as certain assets were used for network expansion.

Due to the 2005 floods in Mumbai and other parts of Maharashtra and Goa, certain fixed assets of the company were damaged.

At present the insurance surveyors are in the process of completing their survey and assessment of the damage, after which TTML will stake a claim.

The company, which holds access licences for Mumbai and Maharashtra (including Goa) circles, added 3.13 lakh net subscribers, increasing its total base to 16.77 lakh.