Tata Teleservices loss narrows to Rs 295 crore in April-June

New Delhi: Loss-making telecom operator Tata Teleservices(Maharashtra) on Tuesday reported narrowing of loss to Rs 295.1 crore in the first quarter of the current financial year. The company had posted a loss of Rs 318.45 crore in the same period a year ago.

Revenue from operations of Tata Teleservices (Maharashtra) Limited (TTML) declined marginally to Rs 266.48 crore during the reported quarter compared to Rs 268.03 crore in the April-June quarter of FY22.

The board of the company approved extension of the term of redemption by two years starting September 18 in respect of 20.18 crore non-cumulative non-convertible redeemable preference shares of Rs 100 each aggregating to Rs 2,018 crore that were issued to its promoter firm Tata Teleservices on preferential basis.