Categories Earnings, Technology

Tata Teleservices reported a net loss of INR 280 crores in Q3FY23

Tata Teleservices (Maharashtra) narrowed net loss to INR 279.79 crore on year in the fiscal third quarter on the back of lower operating expense, and marginally lower finance costs and depreciation. Net loss for the same quarter last fiscal was INR 302.30 crore.

The company, which announced its December quarter numbers Tuesday, saw a marginal dip in revenue from operations at INR 281.90 crore as compared to INR 284.22 crore in the same period last fiscal. EBITDA, however, was up 8.25% to INR 128.13 crore from INR 118.36 crore in Q3FY22.

Ebitda growth was driven by 8.58% decrease in operating expense at INR 140.23 crore against INR 153.40 in the December 2021 quarter. The company has also appointed a new chief financial officer in Shinu Mathai who will take over the position from March 1.

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