TTMLTata Teleservices (Maharashtra) Ltd.

Tata Teleservices (Maharashtra) Q2 FY27 Results: Standalone Net Loss ₹59.20 Crore on Total Income of ₹311 Crore

Earnings
telecommunications services

Blacklitt Research22 October 20263 min read

A telecom mast silhouetted against a sunset sky with orange and dark clouds above a line of trees — W.carter, via Wikimedia Commons (CC0). Illustrative image.

Tata Teleservices (Maharashtra) reported total income of ₹311.38 crore and a net loss of ₹59.20 crore for the quarter ended 30 Sep 2026, on a standalone basis.

Key highlights

Standalone

The company on its own, without its subsidiaries

Total income: ₹311.38 crore, up 8.1% YoY and 2.5% QoQ
Net profit: Net loss of ₹59.20 crore against a loss of ₹320.82 crore a year earlier; EPS of ₹-0.30
Finance costs: ₹191.49 crore, down 54.9% YoY and 7.1% QoQ
Tax expense: Nil for the quarter, as in the year-earlier and previous quarters

Summary

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	311.38	287.99	+8.1%	303.90	+2.5%
Revenue from operations	309.65	286.13	+8.2%	301.57	+2.7%
Other income	1.73	1.86	-7.0%	2.33	-25.8%
	-59.20	-320.82	+81.5%	-72.15	+17.9%
Profit before tax	-59.20	-320.82	+81.5%	-72.15	+17.9%
Finance costs	-191.49	-424.99	+54.9%	-206.09	+7.1%
Depreciation	-33.65	-37.49	+10.2%	-33.27	-1.1%
Tax expense	0.00	0.00	n/a	0.00	n/a
Net profit margin	-19.01%	-111.40%	+92.39 pp	-23.74%	+4.73 pp
EPS, basic (₹)	-0.30	-1.64	+81.7%	-0.37	+18.9%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

The quarter's loss narrowed sharply from a year earlier, but the reason is not in the filing. Net loss fell from ₹320.82 crore to ₹59.20 crore, a gap of about ₹261.62 crore, while total income rose 8.1%. The fall in finance costs, from ₹424.99 crore to ₹191.49 crore, is the largest line-item change in the table. The filing does not explain why finance costs fell.

Finance costs of ₹191.49 crore equal about 61.5% of total income, so interest and related charges remain the main drag on the result. Depreciation of ₹33.65 crore is smaller than finance costs. Profit before tax equals net profit because no tax was charged in any of the three quarters shown.

The notes read in the filing do not change the quarter's figures in this table, since the exceptional items shown relate to the half year ended 30 Sep 2025 and the year ended 31 Mar 2026. Note 1 says accumulated losses exceed paid-up capital and reserves, that current liabilities exceed current assets, and that a support letter from the ultimate holding company covers any shortfall in liquidity. The company says it is confident of meeting its funds requirement and prepared the results on a going concern basis.

Net worth is negative at ₹18,932.69 crore as of 30 Sep 2026, against paid-up equity share capital of ₹1,954.93 crore. Commercial papers of ₹1,505 crore were outstanding at maturity value on that date; of these, ₹65 crore falls due on 9 Nov 2026, ₹850 crore on 17 Nov 2026 and ₹590 crore on 19 Jan 2027.

Inference

The results show a smaller loss, a lower finance cost base and a stable tax line of nil, but the filing does not explain the reasons for the change. The per-share loss of ₹0.30 is based on a share count the filing does not state in its text.

The company's capital position is negative, and the note says the ultimate holding company's support letter covers any liquidity shortfall. The filing does not say whether that letter carries an amount or a period beyond 12 months from the balance sheet date, and it does not say how the first AGR instalment of ₹652.99 crore, paid on 30 Mar 2026, affects later quarters.

The filing reports no dividend. It appoints Mr Gaurav Gupta as an additional director subject to shareholder approval, Ms Sweety Mamodia as Company Secretary and Compliance Officer from 1 Nov 2026, and two senior management personnel from 22 Oct 2026. The filing does not state the reason for the nil tax expense.

Reference: Original filing (PDF)

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