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This is an archive article published on October 26, 2010

Tata Teleservices Q2 net loss narrows

Telecom services provider Tata Teleservices (Maharashtra) today said it has narrowed its net loss at Rs 97.90 crore for the quarter ended September 30,2010.

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Telecom services provider Tata Teleservices (Maharashtra) today said it has narrowed its net loss at Rs 97.90 crore for the quarter ended September 30,2010.

The company had a net loss of Rs 107.98 crore in the July-September quarter last fiscal,Tata Teleservices (Maharashtra) said in a filing to the Bombay Stock Exchange.

Total income stood at Rs 576.29 crore in the second quarter ended September 30,against Rs 538.26 crore in the same quarter previous fiscal,the company said.

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The company succeeded in winning the bid for third generation (3G) spectrum in Maharashtra circle (including Goa and excluding Mumbai) and has accordingly capitalised related license fee of Rs 1,257.82 crore during the period.

The company will amortise license fees on commencement of commercial 3G operations.

Shares of Tata Teleservices (Maharashtra) today closed at Rs 24.40 on the BSE,up 0.83 per cent from the previous close.

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