Quarterly results for Tata Teleservices (Maharashtra) Ltd
Tata Teleservices (Maharashtra) Limited – Q2 FY26 Results Summary
Announcement Date: October 23, 2025
Financial Highlights (Q2 FY26 vs Q2 FY25):
- Revenue from operations: Rs. 286.13 Cr (down from Rs. 343.50 Cr; -16.7% YoY)
- EBITDA: Rs. 139.77 Cr (flat YoY) with an operating margin of 35.1% (up from 27.8%)
- Net loss: Rs. 320.82 Cr (vs. Rs. 330.39 Cr loss)
- Basic & Diluted EPS: (Rs. 1.64) (vs. (Rs. 1.69))
- Finance costs remain high at Rs. 425 Cr, significantly impacting profitability.
Balance Sheet and Liquidity:
- Total borrowings: Rs. 20,445 Cr (Sept 30, 2025), with long-term debt down and short-term debt up since March 31, 2025.
- Current ratio: 0.55, indicating current liabilities exceed current assets.
- Negative net worth of Rs. 19,744 Cr.
- Capital expenditure steady at Rs. 74.34 Cr (H1 FY26).
- Commercial papers outstanding at Rs. 990 Cr, with timely repayments.
Management Commentary:
- Financials prepared on a going concern basis supported by a letter of financial support from the ultimate holding company for 12 months post balance sheet date.
- Change in depreciation policy extended asset life, reducing depreciation expense by Rs. 6.06 Cr in Q2 FY26.
- Provision of Rs. 3.80 Cr made for a regulatory demand related to legacy subscriber connections.
Segment Performance:
- Operates in a single segment: Telecommunication services under Unified License.
Key Developments:
- No acquisitions, disposals, or restructuring reported.
- Impairment loss on financial assets of Rs. 11.31 Cr in H1 FY26.
Outlook:
- No explicit guidance provided.
- Continued monitoring of debt management, finance costs, and regulatory developments recommended.
Audit:
- Unqualified (clean) audit opinion with no reservations.
This summary captures the key financial and operational data points relevant for investment analysis.