Tata Tele Maharashtra's Q1 net loss widens at Rs 162.66 cr

Tata Tele Maharashtra's Q1 net loss widens at Rs 162.66 cr Mumbai: Tata Teleservices (Maharashtra) on Wednesday said its net loss has widened at Rs 162.66 crore for the first quarter ended June 30, 2012.

The company had reported net loss of Rs 119.32 crore for in the year-ago period.

"The Company has considered Rs 154.86 crore, being the LF (Licence Fee) on profit on sale of investment and bad debts written off during the earlier year, as contingent liability and has also made payment of the same to Department of Telecommunications under protest," TTML said in a statement.

However, revenue of the company rose by 11.78 percent at Rs 659.48 crore during the quarter compared to Rs 584.98 crore it reported in the corresponding period last year fiscal.

"The company maintained a strong focus on wireless broadband services. Its VAS (value added services) and data revenues accounted for 35 percent of total wireless revenues in Q1 FY13," the statement said.

Shares of TTML on Wednesday closed at Rs 13.06, down by 4.04 percent compared to its previous close, at BSE Wednesday.

PTI