Tata Teleservices Maharashta FY10 loss widens to Rs 318 cr

MUMBAI: Tata Teleservices Maharashtra’s consolidated loss for FY10 widened to Rs 318 crore from Rs 170 crore in the previous year as revenues from new subscriber additions were more than offset by increased network operating costs and marketing expenses due to the launch of GSM services, reports Our Bureau. The Tata Group company, which has not made profits ever since it started operations in 1998, reported a 12% increase in annual revenues to an all-time high of Rs 2,309 crore. The March 2010 quarter is TTML’s seventeenth consecutive quarter of cash profit. EBITDA (earnings before interest, taxes, depreciation and amortisation) for the year stood at Rs 597 crore with an EBITDA margin of 26%.