Loss increases in quarter 3 for tata teleservices

The telecom branch of Tata group, Tata Teleservices (Maharashtra) Ltd, TTML‘s loss increased in the third quarter. Last year’s third quarter, they suffered a loss of ₹298 crores, this year the result is even worse where they posted a loss of ₹302 crores. However, on the revenue front, TTML managed to put up a slightly better performance. Its revenue from operations increased by 2% to ₹284 crores from ₹278 crores. The company, however, stated that it is confident to meet the fund requirements and run its business. The official statement released by the TTML after the declaration of result is: “The company has incurred a net loss for the quarter and nine months ended December 31, 2021, and current liabilities exceeded its current assets as at that date. It has obtained a support letter from its Promoter indicating that the Promoter will take necessary actions to organize for any shortfall in liquidity during the period of 12 months from the balance sheet date."