TATA TELESERVICES (MAHARASHTRA) LTD
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BSE Code:
532371
NSE Code:
TTML
Business Profile
Business Profile
Tata Teleservices Maharashtra (TTML), a part of Tata Group, is a telecommunication services provider licensed to offer services in Maharashtra (including Mumbai) and Goa. A subsidiary of Tata Teleservices, it was incorporated in 1995 and got its current name in 2002.
The ISO 9001:2000 certified company provides telephony services including mobile, fixed wireless phones (FWP), public telephone booths and wireline services. Broadband data network and application services include leased lines, DSL, Wi-Fi, ethernet, managed gateway services and web conferencing services. The Company holds two unified access (basic + cellular) services licences (UASL), one for Mumbai Metro and the other for the rest of Maharashtra and Goa. It has deployed the latest 3G 1X CDMA technology in Maharashtra to offer wireless communication services like mobile and fixed wireless phones.
The government`s liberal licensing policy has enabled the company to apply for the GSM spectrum in two circles. It is to invest around Rs 5 billion in 2008 for increasing its telecom towers to 2,500 from the present 1,234. The company had already invested Rs 7,380 million in 2005, Rs 5,070 million in 2006 and Rs 5,640 million in 2007. The company has planned to raise around USD 200 million by way of foreign currency convertible bonds for the rollout of network and services. As on March 31, 2007, the company offers services in 357 towns and also along the major national highways linking various towns in Maharashtra and Goa.
The registered office of the company is located at Voltas Premises, T.B. Kadam Marg, Chinchpokli, Mumbai-400033.
Financials
The company`s losses for the quarter ended December 2008 widened. During the quarter, the loss of the company rose to Rs 450.66 million compared with a loss of Rs 274.30 million in the same quarter last year. Net sales for the quarter rose 16.89% to Rs 5140.78 million, while total income for the quarter rose 12.26% to Rs 5158.63 million, when compared with the prior year period. The company posted loss of Rs 0.24 a share during the quarter.
Recent Developments
24-FEB-09
The government approved Japanese telecom firm NTT DoCoMo`s twin proposal to acquire 27.3% stake in Tata Teleservices (TTSL) and an open offer for 20.25% equity in Tata Teleservices (Maharashtra) (TTML).
05-JAN-09
The company and Quippo Telecom merged their passive infrastructure business, and now the combined unit will become the largest independently managed tower company in the country with a valuation of Rs 130 billion.