Tata Teleservices (Maharashtra) Limited (TTML) has reported a net loss of ₹645.80 crore for the half year ended September 30, 2025, showing a slight improvement from ₹653.79 crore in the corresponding period last year. The telecom company continues to navigate a challenging operating environment, marked by declining revenue and high finance costs.
Revenue and Operational Performance
TTML’s revenue from operations declined 14.49% year-on-year, falling to ₹570.38 crore in H1 FY26 from the previous year’s ₹666.71 crore. Despite this contraction, the company reported a modest EBITDA improvement of 3.36%, reaching ₹286.58 crore, reflecting operational efficiency gains. The performance underscores TTML’s focus on cost control and efficiency, even amid broader market pressures and intense competition in the Indian telecom sector.
Finance Costs and Liquidity Position
The company’s finance costs remained substantial at ₹857.88 crore, slightly higher than the ₹851.47 crore recorded a year ago. The high interest burden continues to weigh heavily on profitability, while the balance sheet reflects a liquidity mismatch, with current liabilities exceeding current assets as of September 30, 2025.
To mitigate potential cash flow pressures, TTML received a support letter from its ultimate holding company, providing assurance of financial backing to cover liquidity shortfalls over the next 12 months. This commitment is critical for the company to maintain operations as a going concern, given accumulated losses that exceed paid-up capital and reserves.
Operational Overview
TTML operates under a Unified License, offering a range of telecommunications services across India. As of September 30, 2025, the company had Commercial Papers worth ₹990 crore outstanding, highlighting its reliance on short-term funding to manage operations and debt obligations.
Despite the ongoing financial pressures, TTML continues to focus on operational efficiencies and strategic support from its parent company to stabilize its business. The company’s ability to navigate revenue challenges and manage interest costs will be key in shaping its performance for the remainder of FY26.
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