TTML revenue rises 7% amid new mobile strategy

Tata Teleservices (Maharashtra) Ltd.’s revenue grew 7% in its most recent quarter as the Tata Group subsidiary maintained a strong focus on wireless broadband services while positioning itself for new growth in mobile, TTML said today.

In announcing its second-quarter and first-half results for fiscal year 2011-12, TTML reported revenue of  $126 million during the three-month period that ended Sept. 30, compared with $118 million in the same quarter last year. Earnings before interest, dividends, taxes and amortization grew 22% to $29 million, compared with $24 million in the same quarter of 2010. The comany’s VAS and data revenues accounted for 33.3% of total wireless revenues in the quarter.

In the first half of FY 2011-12, TTML registered revenue growth of 6%, to $246 million, compared with $232 million in the same period last year. EBIDTA grew by 12% to $54 million, compared with $48 million in the same period last year.

TTML officials said the company has adopted a new strategy and an integrated technology-agnostic structure to take advantage of emerging market opportunities. TTML plans to use its wide variety of products and services and reach out to customers with one common brand, Tata DOCOMO, cutting across the CDMA and GSM platforms.

“Our new business approach gives (TTML) strategic direction in the access, content and solutions spaces, enabling the company to offer compelling propositions to customers in a market that has been witnessing far-reaching changes in terms of usage trends and customer preferences,” Managing Director N. Srinath said. “The growth of Internet usage on phones, the arrival of smartphones, the explosion of social networking and the evolving needs of the Indian consumer — all have led to a fundamental shift in the role of the mobile phone in everyone‘s life. We believe the phone is no longer just for talking; it holds the potential to impact lifestyles, even transform lives.”