Tata Teleservices Maharashtra Ltd., one of the fastest growing telecom service providers across Maharashtra and Goa, announced financial results for the fiscal year, reporting loss that widened from last year, despite an increase in revenue.
The Mumbai-based company reported fiscal year net loss of Rs.159.60 crore, compared to a net loss of Rs.125.74 crore in 2008. For the year, the company reported loss per share of Re.0.84, compared to a loss per share of Re.0.70 in FY08.
For the first twelve months, the company's net revenue increased 14% to Rs.1,941.68 crore from Rs.1,707.19 crore s year-ago, while other operating income amounted to Rs.100.20 crore, compared with Rs.65.91 crore last year.
Consolidated Results
For the fiscal year 2009, Tata Teleservices posted consolidated net loss of Rs.169.94 crore on total revenue of Rs.2,045.98 crore.
Adjusted Gross Revenue (AGR) market share rose 1%, compared to the previous year, as per the reports published by the Telecom Regulatory Authority of India, a growth of 15%, compared to the industry growth of 4% in the company's geography.
The company has nearly 7.49 million subscribers, a 48% growth over the 5 million subscriber base registered in the previous year.
The company said it has been rated as the only congestion free network across Mumbai and Maharashtra in the last three consecutive reports published by Telephone Regulatory Authority of India or TRAI.
Mukund Rajan, Managing Director, said, "We are very well positioned to growth going forward, both on our DNA and wire line broadband businesses. We will soon be launching GSM services across Mumbai, Maharashtra, and Goa in Q2 of this financial year. Finally, with the competitive playing field becoming more level, after the April reduction in termination charges, I do believe TTML is going to further improve its competitive position this year."
At the BSE, Tata Teleservices shares are currently trading at Rs.23.25, down by Re.0.35 or 1.48% on volume of 1.95 lakh shares.
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