Tata Tele reports 6.6% growth in Q3 revenue at Rs711 crore
31 January 2014
Tata Teleservices (Maharashtra) Limited (TTML) has reported a 6.6 per cent year-on-year increase in fiscal third quarter revenues at Rs711 crore, compared to Rs667 crore in the corresponding quarter of the previous year.
Earnings before interest, depreciation, tax and amortisation (EBIDTA) for the quarter stood at Rs148 crore.
TTML said its net profit was adversely affected by a Rs65-crore provision for contingencies, primarily towards the outstanding claims / litigations against the company relating to department of telecommunication (DoT) and other parties.
Company's revenues for the first 9 months of FY14 ended 31 December 2013 increased by 5.7 per cent to Rs2,097 crore, compared to Rs1,984 crore in corresponding period of the previous year.
EBIDTA for the first 9 months the 2013-14 financial year stood at Rs447 crore.
The company maintained a strong focus on wireless broadband services.
The company also recently announced the launch of a revolutionary product Photon Max Wi-Fi.
Tata Docomo customers can now create their own Wi-Fi Zone anytime anywhere and access the internet through any device – laptop, desktop, tablet or phone.
The network effortlessly serves up to five devices simultaneously.
The device offers services like video on demand, video streaming, hi-speed data transfer and a host of personal and enterprise applications.
Photon Max Wi-Fi will catalyse the blossoming of an entirely new telecom eco-system of not just internet on the go but internet on Wi-Fi.
The company has been constantly enhancing its network reach and coverage both through organic expansion as well as through partnerships with other operators.
TTML has enhanced its network coverage by an additional 1,500 GSM cell sites and extending services to an additional 900 towns.