TTML shows 7% growth in revenues at Rs 620cr

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TTML shows 7% growth in revenues at Rs 620cr

TTML has announced its quarterly and half-yearly financial results for the period ended 30 September 2011. The Company showed a 7% growth in year-on-year revenues at Rs 620 crore for the quarter ended September 30, 2011.

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Tata Teleservices (Maharashtra) has announced its quarterly and half-yearly financial results for the period ended 30 September 2011. The Company showed a 7% growth in year-on-year revenues at Rs 620 crore for the quarter ended September 30, 2011, compared to Rs 582 crore in the corresponding quarter of the previous year. Its posted net loss of Rs 130.2 crore.

TTML¡®s EBIDTA grew 22% to Rs 144 crore for the quarter in review, compared to Rs 118 crore in the corresponding quarter of the previous year. The Company maintained a strong focus on wireless broadband services, and its VAS and data revenues accounted for 33.3 per cent of total wireless revenues in Q2 of FY 11-12.

Other highlights in the first half of the ongoing year saw the Company registering a revenue growth of 6%, at Rs 1,212 crore, compared to Rs 1,145 crore in the corresponding half year of the previous year. Correspondingly, H1 EBIDTA grew by 12 per cent to Rs 264 crore, compared to Rs 236 crore in the corresponding half year of the previous year.

Tata Teleservices (Maharashtra) Limited has adopted a future-facing strategic approach to ring in the next growth wave in the Company, unveiling an integrated technology-agnostic structure to leverage emerging market opportunities. The Company will leverage its wide range of products and services and reach out to customers with one common brand¡ªTata DOCOMO¡ªcutting across the CDMA and GSM platforms.

"Our new business approach gives TTL strategic direction in the Access, Content and Solutions spaces, enabling the Company to offer compelling propositions to customers in a market that has been witnessing far-reaching changes in terms of usage trends and customer preferences. The growth of the Internet usage on phones, the arrival of Smart phones, the explosion of social-networking and the evolving needs of the Indian consumer¡ªall have led to a fundamental shift in the role of the mobile phone in everyone¡®s life. We believe the phone is no longer just for talking; it holds the potential to impact lifestyles, even transform lives,¡¬ Mr. N Srinath, Managing Director Tata Teleservices (Maharashtra) Limited, said.