Tata Teleservices (Maharashtra) LimitedQ1 FY27 Results & Financial Update
Tata Teleservices (Maharashtra) Limited: Q1 FY27 standalone results and company financials – revenue ₹301.57 Cr, PAT ₹-72.15 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Tata Teleservices (Maharashtra) Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Tata Teleservices (Maharashtra) Limited reported revenue from operations of Rs. 301.57 crores for the first quarter ended June 30, 2026, alongside other income of Rs. 2.33 crores, bringing total income to Rs. 303.90 crores.
The company posted an EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) of Rs. 164.90 crores for the quarter, reflecting ongoing operational earnings before accounting for heavy financing costs.
Finance costs remained the single largest drag on profitability, standing at Rs. 206.09 crores for the quarter, which significantly outpaced operating earnings and drove the bottom line into negative territory.
Depreciation and amortisation expense for the period was recorded at Rs. 33.27 crores, while net gain on investments contributed Rs. 1.25 crores.
The company incurred a net loss (profit/loss after tax) of Rs. 72.15 crores for Q1 FY27, with basic and diluted earnings per share both resting at Rs. -0.37.
Accumulated losses as of June 30, 2026, have exceeded the company's paid-up capital and reserves, resulting in a negative net worth and current liabilities exceeding current assets.
To address liquidity constraints, the company relies on support letters from its ultimate holding company and has structured various debt instruments, including commercial papers and redeemable preference shares.
During the quarter ended 30 June 2026 (Q1 FY27), Tata Teleservices (Maharashtra) Limited reported standalone revenue from operations of INR 301.57 crore and total income of INR 303.90 crore.
01 · Business model
What does Tata Teleservices (Maharashtra) do?
Tata Teleservices (Maharashtra) Limited provides telecommunication services under Unified License, operating as a single reportable segment focused on enterprise connectivity and digital solutions.
The company generates its primary revenue from operations through enterprise-focused telecom services, complemented by other income streams including gains on investments.
Its economic model involves significant capital intensity and legacy debt obligations, requiring ongoing financial support and liquidity backing from its ultimate holding company.
The registered office is located at D-26, TTC Industrial Area, MIDC Sanpada, P.O. Turbhe, Navi Mumbai.
02 · Historical context
What shaped the business before this quarter
The Consumer Mobility Business was demerged in 2019, reshaping the company's operational scope toward enterprise telecom services.
Following the Supreme Court's October 2019 AGR judgment, the company previously provisioned liabilities and availed a four-year moratorium under the government's telecom relief package.
On October 18, 2016, the company issued 20,18,00,000 non-cumulative non-convertible redeemable preference shares aggregating to Rs. 2,018 crores to Tata Teleservices Limited.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹301.57 Cr |
| Total income | ₹303.90 Cr |
| Profit before tax | ₹-72.15 Cr |
| Profit after tax | ₹-72.15 Cr |
| EPS | ₹-0.37 |
Financial interpretation
What the reported numbers mean
Profit after tax represented -23.9% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to -23.9% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹2.33 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue is generated entirely through unified license telecom services tailored primarily to business and enterprise customers.
Other income added Rs. 2.33 crores to the top line during the quarter, supported by minor net investment gains.
Reported standalone revenue from operations of INR 301.57 crore for Q1 FY27, backed by total income of INR 303.90 crore.
What drove margins
Heavy finance charges amounting to Rs. 206.09 crores overwhelmed the EBITDA of Rs. 164.90 crores, dictating the net loss outcome.
Employee benefits expenses stood at Rs. 23.08 crores, while operating and other expenses totaled Rs. 115.92 crores for the quarter.
Depreciation and amortisation charges of Rs. 33.27 crores further compressed profitability following asset life reassessments in prior periods.
Finance costs of INR 206.09 crore exerted substantial downward pressure on the bottom line, resulting in a net loss of INR 72.15 crore.
Depreciation and amortisation charges amounted to INR 33.27 crore during the quarter.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates in a single reportable segment of providing telecommunication services under Unified License in the context of Ind AS 108.
06 · Reported developments
What changed operationally
Price Waterhouse Chartered Accountants LLP issued a limited review report with an unmodified opinion on the financial results for the quarter ended June 30, 2026.
07 · Pressure points & risks
What is not going smoothly
Accumulated losses have eroded paid-up capital and reserves, leaving the company with a negative net worth of Rs. -20,055.53 crores as of June 30, 2026.
Current liabilities exceeded current assets as of June 30, 2026, necessitating continuous financial support from the ultimate holding company.
08 · Items worth noticing
The line items that can distort a quick read
The company recognized expenses of Rs. 3.90 crores during the quarter and year ended March 31, 2026, on vendor reconciliation related to the Consumer Mobility Business demerged in 2019.
Disclosures note ongoing legacy Department of Telecommunications (DoT) connection fee demands and AGR obligations, with active installments and court filings.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
The Board approved extending the redemption term of 20,18,00,000 0.1% Non-Cumulative Non-Convertible Redeemable Preference Shares aggregating to Rs. 2,018 crores issued to Tata Teleservices Limited to October 17, 2036.
The company reported outstanding Commercial Papers and maintained a debt-equity ratio of -1.03 alongside a debt service coverage ratio of 0.03 for the quarter.
The company holds a support letter from its ultimate holding company to organize necessary financial backing for shortfalls in liquidity.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Senior Management Appointment
Mr. Kushalraj Sonigda was appointed as Senior Management Personnel (Company Secretary of Tata Teleservices Limited) effective July 22, 2026.
Reported update
Statutory Auditor Succession Plan
The Board recommended the appointment of M/s T. P. Ostwal & Associates LLP as statutory auditors for a 5-year term from the conclusion of the 32nd AGM in 2027 until the 37th AGM in 2032, following the completion of Price Waterhouse Chartered Accountants LLP's second term.
Reported update
Financial Results Filing
The company submitted its standalone financial results for the quarter ended 30 June 2026 via official exchange channels under IND AS reporting standards.
11 · Key Q&A
The quarter, answered directly
What does Tata Teleservices (Maharashtra) do?
Tata Teleservices (Maharashtra) Limited provides telecommunication services under Unified License, operating as a single reportable segment focused on enterprise connectivity and digital solutions.
What is the clearest takeaway from Q1 FY27?
Tata Teleservices (Maharashtra) Limited reported revenue from operations of Rs. 301.57 crores for the first quarter ended June 30, 2026, alongside other income of Rs. 2.33 crores, bringing total income to Rs. 303.90 crores.
What drove revenue or demand?
Revenue is generated entirely through unified license telecom services tailored primarily to business and enterprise customers.
What mattered most for margins or profitability?
Heavy finance charges amounting to Rs. 206.09 crores overwhelmed the EBITDA of Rs. 164.90 crores, dictating the net loss outcome.
What changed operationally beyond the headline numbers?
Mr. Kushalraj Sonigda was appointed as Senior Management Personnel (Company Secretary of Tata Teleservices Limited) effective July 22, 2026.
What are the main pressure points disclosed for the quarter?
Accumulated losses have eroded paid-up capital and reserves, leaving the company with a negative net worth of Rs. -20,055.53 crores as of June 30, 2026.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Auditor Appointment Approval: Approval of members for the appointment of M/s T. P. Ostwal & Associates LLP as statutory auditors at the upcoming AGM.
- 02
Preference Share Consents: Receipt of requisite consents and approvals for the extension of the redemption term of Redeemable Preference Shares to October 17, 2036.
- 03
Debt and Finance Cost Trajectory: Monitor future disclosures for trends in finance costs and liability management given their heavy impact on profitability.
- 04
Revenue and Bottom-line Progression: Track sequential revenue growth and loss reduction trends in subsequent quarters.
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