Business Daily from THE HINDU group of publications
Sunday, Oct 29, 2006
ePaper
Business Daily from THE HINDU group of publications Sunday, Oct 29, 2006 ePaper |
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Info-Tech
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Financial Performance Corporate Results - Telecommunications Tata Tele pares losses in Q2 Our Bureau
Mumbai , Oct. 28 Tata Teleservices (Maharashtra) Ltd said net loss for the second quarter of the fiscal reduced 30 per cent from a year ago. Higher revenues coupled with lower expenditure costs helped reduce losses. Net loss for the quarter amounted to Rs 93 crore down from Rs 133 crore. Earnings before interest, depreciation and taxation, rose 146 per cent to Rs 64 crore from Rs 26 crore. This was on a 31 per cent rise in revenues at Rs 340 crore (Rs 31 crore). Total expenditure on the other hand rose only 18 per cent to Rs 277 crore from Rs 233 crore. Administration and general expenses were at Rs 47 crore (Rs 52 crore) registering a slight fall, while network expenditure costs at Rs 61 crore (Rs 41 crore) and selling and marketing costs at Rs 59 crore (Rs 37 crore) were higher. Subscriber base in the quarter rose 72 per cent, said the company. The company's shares closed marginally lower on the BSE on Friday, ending the day at Rs 19.05, losing Rs 0.15 over the day.
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