Tata Teleservices Maharashtra stays in the red despite steady revenue

MUMBAI: It was a quarter of steady takings but stubborn troubles for Tata Teleservices (Maharashtra) Limited, as the telecom operator’s December 2025 results showed revenues holding firm while losses continued to bite.

For the quarter ended December 31, 2025, the company reported revenue from operations of Rs. 294.31 crore, marginally higher than Rs. 286.13 crore in the previous quarter, though lower than Rs. 332.77 crore a year ago. Total income stood at Rs. 296.13 crore.

Operating performance showed some resilience. EBITDA came in at Rs. 175.62 crore for the quarter, improving sharply from Rs. 139.77 crore in the September quarter and Rs. 149.79 crore in Q3 last year, reflecting tighter cost controls and lower operating expenses. Operating profit margin improved to 46.93 per cent, compared with 35.10 per cent in the previous quarter.

However, heavy finance costs continued to weigh on the bottom line. Finance expenses stood at Rs. 287.82 crore for the quarter, far outweighing operating gains. As a result, the company posted a loss before tax of Rs. 150.43 crore and a net loss of the same amount for the quarter, compared with a loss of Rs. 320.82 crore in Q2 FY26.

For the nine months ended December 31, 2025, Tata Teleservices Maharashtra reported revenue of Rs. 864.69 crore, down from Rs. 999.77 crore in the corresponding period last year. Net loss for the nine-month period stood at Rs. 796.23 crore, narrower than the Rs. 968.90 crore loss reported a year earlier, indicating gradual improvement but no turnaround yet.

The company’s financial position remains under strain, with net worth at a negative Rs. 20,564.48 crore and a current ratio of 0.44. Loss per share for the quarter stood at Rs. 0.77, while the net loss margin remained deep at minus 51.11 per cent.

In short, while operational efficiency showed signs of life in the December quarter, Tata Teleservices Maharashtra’s balance sheet realities continue to dominate the story, keeping profitability firmly out of reach for now.