Tata Teleservices (Maharashtra) Ltd. posted consolidated profit of Rs.802.3 mn for FY 11

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Results: Tata Teleservices
Tata Teleservices (Maharashtra) Ltd. announced its consolidated audited financial results for the twelve month period from April - March 2011 on Tuesday.

The company recorded a net profit of Rs. 802.3 million for the same period as compared to net loss of Rs. 3,180.0 million reported during the corresponding period in 2010.

While, the net sales of the company during the twelve month period from April-March stood at Rs. 22,655.9 million, as compared to Rs. 20,982.7 million for corresponding quarter of 2010, i.e. a Y-o-Y growth of 7.97%.

Moreover, the consolidated EPS of the company during the twelve months i.e. from April - March 2011, increased to Rs. 0.42 as against Rs. (1.68) in the year ago period of 2010.

On a standalone basis, the company recorded a net profit of Rs. 499.0 million for the same period as compared to net loss of Rs. 2980.1 million reported during the corresponding period in 2010.

The net sales of the company during the twelve month period from April-March stood at Rs. 22,487.4 million, as compared to Rs. 20,691.0 million for corresponding quarter of 2010, i.e. a Y-o-Y growth of 8.6%.

The Other operating Income for the year ended March 31, 2011 stood at Rs 445.7 million and this amount includes subsidies from Department of Telecommunications (DOT) for Universal Service Obligation of Rs. 68.7 million as compared to Rs. 1412.9 million for the year ended March 31, 2010, because of the discontinuation of the specific scheme.

The Interest charges for the year stood at Rs 3,461.6 million. The interest and other income earned from treasury operations are reduced from the costs of treasury operations. Interest charges also include amounts aggregating to Rs.1889 lacs (loss) for the year ended March 31, 2011 as compared to Rs.448 lacs (loss) for the year ended March 31, 2010 on account of foreign exchange fluctuations.

Moreover, the standalone EPS of the company during the twelve months i.e. from April - March 2011, increased to Rs. 0.26 as against Rs. (1.57) in the year ago period of 2010.

Gross minute usage of the wireless services increased by 24% and the TTML subscriber base witnessed an increase of 30% and stood at 16.9 million along with this focus on the wireless broad band services. Photon with VAS and data services increased VAS and data revenues to 22.9% of the total wireless revenues from 14.6% in the previous year.

Read more about: tata teleservices, telecom, bse, nse
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