Tata Teleservices (Maharashtra) Limited subscriber base grows 41% to 6.6 million

· Compared to the corresponding quarter of the previous year, subscriber base grows 41% to 6.6 mn; Revenues crossed Rs 1500 Crs for the nine month period for the first time; Quarterly EBIDTA grows 15% to Rs 147.34 cr.

Delhi, January 19, 2009: Tata Teleservices (Maharashtra) Limited today announced its quarterly results for the period ended 31st December 2008.

Quarterly Highlights:

The subscriber base stands at 6.6 mn – an increase of 41% over the corresponding quarter of the previous year.

Revenues grew 12% to Rs. 515.86 cr, compared to the corresponding quarter of the previous year.

EBIDTA grew 15% to 147.34 cr, compared to the corresponding quarter of the previous year.

The Company aggressively rolled out its network in an additional 127 towns in Maharashtra during the quarter, taking its population coverage to 65%.

Foreign Exchange losses of Rs 9.59 cr were accounted in the quarter under Accounting Standards 30, 31 & 32 prescribed by ICAI. (In the corresponding period of the previous year, a Foreign Exchange gain was recorded of Rs 6.84 cr).

Nine Monthly Highlights:

The subscriber base stands at 6.6 mn – an increase of 41% over the corresponding nine months of the previous year.

Revenues grew 19% to Rs. 1538.91 cr, compared to the corresponding nine months of the previous year.

EBIDTA grew 38% to 463.54 cr, compared to the corresponding nine months of the previous year.

Foreign Exchange losses of Rs 63.79 cr were accounted in the nine months under Accounting Standards 30, 31 & 32 prescribed by ICAI. (In the corresponding period of the previous year, a Foreign Exchange gain recorded of Rs 14.45 cr).

About Tata Teleservices (Maharashtra) Limited:
Tata Teleservices (Maharashtra) Limited is India’s premier telecommunication service provider licensed to provide telecommunication services in Maharashtra (including Mumbai) and Goa. It focuses on all market segments, i.e. commercial, residential and public telephony. Tata Teleservices (Maharashtra) Limited has over 6 million customers in Maharashtra and Goa. These include reputed corporates, SMEs and residential customers. The company was recently rated the No. 1 wireless operator in terms of overall customer satisfaction across Maharashtra (including Mumbai) and Goa, in surveys commissioned by the Telecom Regulatory Authority of India (TRAI). The company is listed on the Bombay Stock Exchange (BSE) (Scrip code-532371) and the National Stock Exchange (NSE) (Scrip symbol – TTML).

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