Tata Tele Services on Thursday reported a profit of Rs 581 crore in the fourth quarter, compared with a loss of Rs 306 crore in the same quarter last year and Rs 150 crore in the preceding December quarter.
Revenue from operations fell 4% YoY to Rs 296 crore.
The sharp turnaround in profitability was largely due to exceptional items amounting to Rs 663 crore during the quarter. Excluding these, the company would have reported an operating loss.
On a sequential basis, TTML reported a profit compared with a loss of Rs 150 crore in the December quarter, indicating a significant improvement driven by one-off gains rather than core operations.
Loss before exceptional items stood at Rs 82 crore in Q4, narrowing from Rs 306 crore in the year-ago period, suggesting some operational improvement.
More to come…