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Tata Teleservices (Maharashtra) Q2 FY27 results: net loss narrows to ₹59.20 crore, revenue up 8.2%
Tata Teleservices (Maharashtra) Limited reported standalone Q2 FY27 revenue of ₹309.65 crore, up 8.2% from Q2 FY26, while the net loss narrowed to ₹59.20 crore. EBITDA rose to ₹164.21 crore and margin expanded to 53.0%, although the margin declined from 54.7% in Q1 FY27.
Key points
- Standalone Q2 FY27 revenue was ₹309.65 crore, up 8.2% from Q2 FY26 and 2.7% from Q1 FY27.
- EBITDA was ₹164.21 crore in Q2 FY27, up 17.5% year on year; the margin was 53.0%, compared with 48.9% in Q2 FY26.
- The company reported a net loss of ₹59.20 crore in Q2 FY27, compared with a net loss of ₹320.82 crore in Q2 FY26 and ₹72.15 crore in Q1 FY27.
- Basic EPS was negative ₹0.30 in Q2 FY27, against negative ₹1.64 in Q2 FY26 and negative ₹0.37 in Q1 FY27.
- H1 FY27 revenue was ₹611.22 crore, up 7.2% from H1 FY26, while the net loss narrowed to ₹131.35 crore from ₹645.80 crore.
How did Tata Teleservices (Maharashtra) perform in Q2 FY27?
Tata Teleservices (Maharashtra) Limited reported standalone revenue of ₹309.65 crore for Q2 FY27, up ₹23.52 crore, or 8.2%, from ₹286.13 crore in Q2 FY26. It was also up ₹8.08 crore, or 2.7%, from ₹301.57 crore in Q1 FY27. Total income was ₹311.38 crore in the quarter, against ₹287.99 crore a year earlier and ₹303.9 crore in the previous quarter.
EBITDA for Q2 FY27 was ₹164.21 crore, up ₹24.41 crore, or 17.5%, from ₹139.80 crore in Q2 FY26, while the margin rose 4.1 percentage points to 53.0%. Against Q1 FY27, EBITDA was lower by ₹0.67 crore, or 0.4%, and margin was down 1.7 percentage points. The company reported a net loss of ₹59.20 crore, compared with a net loss of ₹320.82 crore a year earlier and ₹72.15 crore in the previous quarter.
Basic EPS was negative ₹0.30 in Q2 FY27, compared with negative ₹1.64 in Q2 FY26 and negative ₹0.37 in Q1 FY27. PBT was also a loss of ₹59.20 crore, against a loss of ₹320.82 crore in the year-ago quarter and ₹72.15 crore in Q1 FY27. No consolidated figures were provided in the stated facts.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 309.65 | 301.57 | 286.13 | +8.2% | +2.7% |
| Other income | 1.73 | 2.33 | 1.86 | −7.0% | −25.8% |
| Total expenses | 370.58 | 376.05 | 608.81 | −39.1% | −1.5% |
| EBITDA | 164.21 | 164.88 | 139.80 | +17.5% | −0.4% |
| EBITDA margin | 53.0% | 54.7% | 48.9% | +4.1 pp | −1.7 pp |
| Profit before tax | −59.20 | −72.15 | −320.82 | ||
| Tax | 0 | 0 | 0 | ||
| Net profit | −59.20 | −72.15 | −320.82 | ||
| EPS (₹) | −0.30 | −0.37 | −1.64 |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Tata Teleservices (Maharashtra)'s costs and profit?
Total expenses fell ₹238.23 crore, or 39.1%, to ₹370.58 crore in Q2 FY27 from ₹608.81 crore in Q2 FY26. Finance costs declined ₹233.50 crore, or 54.9%, to ₹191.49 crore, while other expenses fell ₹4.21 crore, or 3.4%, to ₹120.17 crore. Depreciation fell ₹3.84 crore, or 10.2%, to ₹33.65 crore, while employee cost rose ₹3.32 crore, or 15.1%, to ₹25.27 crore.
Other income was ₹1.73 crore in Q2 FY27, down ₹0.13 crore, or 7.0%, from ₹1.86 crore in Q2 FY26. There was no exceptional item, and tax was unchanged at ₹0 crore. Against Q1 FY27, finance costs fell ₹14.60 crore to ₹191.49 crore and other expenses rose ₹6.56 crore to ₹120.17 crore; other income fell ₹0.60 crore to ₹1.73 crore. The filing did not state a reason for these movements.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 25.27 | 21.95 | +3.32 | +15.1% |
| Finance costs | 191.49 | 424.99 | −233.50 | −54.9% |
| Depreciation | 33.65 | 37.49 | −3.84 | −10.2% |
| Other expenses | 120.17 | 124.38 | −4.21 | −3.4% |
| Total expenses | 370.58 | 608.81 | −238.23 | −39.1% |
| Other income | 1.73 | 1.86 | −0.13 | −7.0% |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, standalone revenue was ₹611.22 crore, up ₹40.84 crore, or 7.2%, from ₹570.38 crore in H1 FY26. Total income rose ₹40.93 crore, or 7.1%, to ₹615.28 crore from ₹574.35 crore, while basic EPS was negative ₹0.67 compared with negative ₹3.30.
The company reported a net loss of ₹131.35 crore for H1 FY27, compared with a net loss of ₹645.80 crore for H1 FY26. The PBT was also a loss of ₹131.35 crore, versus a loss of ₹645.80 crore a year earlier, reflecting a smaller loss in the first half of FY27.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 611.22 | 570.38 | +7.2% |
| Profit before tax | −131.35 | −645.80 | |
| Net profit | −131.35 | −645.80 | |
| EPS (₹) | −0.67 | −3.30 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1409.63 crore, compared with ₹1341.03 crore at 31 March 2026. Total equity remained negative at ₹18932.69 crore, compared with negative ₹19983.38 crore, while borrowings declined to ₹19645.98 crore from ₹20663.04 crore. Cash fell to ₹8.70 crore from ₹15.40 crore.
Trade receivables rose to ₹110.45 crore from ₹95.48 crore, while trade payables declined to ₹204.44 crore from ₹239.14 crore. For H1 FY27, operating cash flow was ₹343.73 crore, compared with ₹347.02 crore in H1 FY26. Investing cash flow was negative ₹107.76 crore versus negative ₹79.96 crore, and financing cash flow was negative ₹242.67 crore versus negative ₹304.62 crore; capital expenditure was ₹58.57 crore against ₹74.34 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,410 | 1,341 |
| Total equity | −18,933 | −19,983 |
| Borrowings | 19,646 | 20,663 |
| Cash and equivalents | 8.70 | 15.40 |
| Inventories | 0 | 0 |
| Trade receivables | 110.45 | 95.48 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 343.73 | 347.02 |
| Cash from investing | −107.76 | −79.96 |
| Cash from financing | −242.67 | −304.62 |
| Capital expenditure | 58.57 | 74.34 |
Source: Company's results filing (XBRL).
How has Tata Teleservices (Maharashtra) done over the last 8 quarters?
Revenue rose to ₹309.65 crore in Q2 FY27 from ₹301.57 crore in Q1 FY27, after standing at ₹284.25 crore in Q1 FY26, the lowest point in the reported series. The company’s revenue rose year on year in each of the last two quarters. Q3 FY25 revenue of ₹332.77 crore was the highest listed figure before the recent increase.
What else did the company announce?
On 22 October 2026, the board approved the audited financial results for the quarter and half year ended 30 September 2026. The same-day filing also stated that Price Waterhouse Chartered Accountants LLP issued an auditors’ report with an unmodified opinion. The board approved Gaurav Gupta’s appointment as Additional Director, effective 23 October 2026, subject to shareholder approval.
The board also approved Sweety Mamodia’s appointment as Company Secretary, Compliance Officer and Key Managerial Personnel, effective 1 November 2026. Sai Pratyush, Vice President - Strategy, and Vaibhav Ambradkar, General Manager - Customer Experience Group, were appointed as Senior Management Personnel with effect from 22 October 2026. The filings did not announce a dividend or fund raise.
What did the auditors point out?
Price Waterhouse Chartered Accountants LLP issued an unmodified opinion on the financial results for the quarter ended 30 September 2026, the year-to-date results for the period from 1 April 2026 to 30 September 2026, the statement of assets and liabilities, and the statement of cash flows for the half-year ended on that date. The auditors said the results give a true and fair view under the applicable accounting standards and listing regulations.
The report states that the board is responsible for assessing the company’s use of the going-concern basis of accounting unless it intends to liquidate the company or cease operations, or has no realistic alternative. The auditors’ responsibilities include evaluating the appropriateness of that basis and concluding whether a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern; if so, they are required to draw attention to related disclosures or modify their opinion.
How did Tata Teleservices (Maharashtra) shares react?
After the filing appeared, the stock was down 0.1% after 5 minutes, 15 minutes and 30 minutes. From the pre-results close of ₹32.10, it was up 19.8% by the reaction-day close. By the next day’s close, the stock was up 23.0% from that pre-results close, and by the five-session close it was up 11.7%.
The industry median was down 0.2% on the reaction day and down 0.5% by the next day’s close, compared with the stock’s gains of 19.8% and 23.0%. The stock therefore exceeded the industry median by 20.1 percentage points on the reaction day and 23.5 percentage points by the next day’s close. Earlier result-day moves included gains of 0.4% on 22 July 2026 and 1.8% on 23 April 2026, and declines of 1.9% on 20 January 2026 and 1.6% on 23 October 2025.
| After the filing | Stock | Telecom - Cellular & Fixed line services median |
|---|---|---|
| 5 minutes | −0.1% | |
| 15 minutes | −0.1% | |
| 30 minutes | −0.1% | |
| Reaction day | +19.8% | −0.2% |
| Next day | +23.0% | −0.5% |
| 5 days | +11.7% | +2.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 22 July 2026 | +0.4% |
| 23 April 2026 | +1.8% |
| 20 January 2026 | −1.9% |
| 23 October 2025 | −1.6% |
| 23 July 2025 | +3.0% |
| 27 May 2025 | +0.1% |
| 23 January 2025 | +0.2% |
| 24 October 2024 | −2.3% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Tata Teleservices (Maharashtra)'s revenue in Q2 FY27?
Revenue from operations was ₹309.65 crore, up 8.2% from ₹286.13 crore in Q2 FY26 (standalone).
Did Tata Teleservices (Maharashtra) make a profit in Q2 FY27?
No. It reported a net loss of ₹59.20 crore, against a net loss of ₹320.82 crore in Q2 FY26.
What was Tata Teleservices (Maharashtra)'s EPS in Q2 FY27?
Basic loss per share was ₹0.30, against a loss of ₹1.64 in Q2 FY26.
How did Tata Teleservices (Maharashtra) shares react to the Q2 FY27 results?
On the reaction day the stock moved +19.8% from the previous close; the median Telecom - Cellular & Fixed line services stock moved −0.2%.
When did Tata Teleservices (Maharashtra) announce its Q2 FY27 results?
On 22 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting Intimation - Regulation 29 Of Listing Regulations (BSE, 15 October 2026) · PDF
- Approval Of Audited Financial Results For The 2Nd Quarter And Half Year Ended September 30, 2026 (BSE, 22 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Meeting Of The Board Of Directors Held On October 22, 2026 (BSE, 22 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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