Tata Teleservices (Maharashtra) (532371) Q1 24/25 earnings summary

Executive summary

• Unaudited financial results for the quarter ended June 30, 2024, were approved, with a limited review report issued by the statutory auditors and an unmodified opinion.

• Extension of redemption term by 24 months for ₹2,018 crore of 0.1% non-cumulative non-convertible redeemable preference shares was approved.

Financial highlights

• Revenue from operations for Q1 FY25 was ₹323.50 crore, up from ₹285.51 crore in Q1 FY24 and ₹323.29 crore in Q4 FY24.

• EBITDA for the quarter was ₹138.53 crore, compared to ₹127.20 crore in Q1 FY24 and ₹142.45 crore in Q4 FY24.

• Net loss for Q1 FY25 stood at ₹323.40 crore, versus ₹301.18 crore in Q1 FY24 and ₹309.34 crore in Q4 FY24.

• Basic and diluted loss per share for the quarter was ₹1.65, compared to ₹1.54 in Q1 FY24.

Outlook and guidance

• The company has received a support letter from its ultimate holding company to address any liquidity shortfall over the next 12 months, supporting its going concern assumption.