By IANS,
Mumbai : Telecom service provider Tata Teleservices (Maharashtra) Ltd. (TTML) Tuesday reported a radical turnaround, saying it earned a net profit of Rs.80 crore for the 2010-11 fiscal year ended March 31 against a net loss of Rs.318 crore suffered in the fiscal before 2009-10.
The total sales of the company stood at Rs.3,168.43 crore during the period under review as against Rs.2,277.78 crore during the year ago period, the company said in a regulatory filing.
The company launched its 3G services during the current financial year and therefore the results for the year are not strictly comparable with those of the corresponding prior period.
The company paid license fees of Rs.1,25,7.82 crore for 3G spectrum in Maharashtra circle which was capitalised during the quarter ended June 30, 2010.
At the Bombay Stock Exchange, the shares of the company closed up 7.61 at Rs.19.10.