Tata Teleservices (Maharashtra) (532371) Q4 23/24 earnings summary

Executive summary

• FY24 revenue from operations rose to ₹1,191.65 crore from ₹1,106.17 crore; EBITDA increased to ₹536.00 crore from ₹499.67 crore, while net loss widened to ₹1,228.44 crore from ₹1,144.72 crore.

• The digital-solutions portfolio expanded, but substantial debt, accumulated losses and regulatory exposures remain significant; continued operations rely in part on financial support from the ultimate holding entity.

Financial highlights

• Total income was ₹1,200.23 crore versus ₹1,113.34 crore; operating expenses rose to ₹664.23 crore from ₹613.67 crore.

• EBITDA was ₹536.00 crore versus ₹499.67 crore; EBITDA margin was 45%, similar to FY23.

• Loss before exceptional items and tax was ₹1,228.44 crore versus ₹1,139.45 crore; FY24 had no exceptional item versus ₹5.27 crore in FY23.

• Net loss was ₹1,228.44 crore versus ₹1,144.72 crore; basic and diluted loss per share was ₹6.28 versus ₹5.86.

• Operating cash flow was ₹586.07 crore versus ₹558.08 crore; investing cash outflow was ₹64.46 crore and financing cash outflow was ₹503.41 crore.

Outlook and guidance

• Growth prospects are tied to the Smart Digital Solutions portfolio, channel partners, network reach, brand strength and differentiated customer experience.

• Priorities include strengthening the portfolio, improving customer experience, expanding footprint and developing human capital; ongoing investment in products, people and infrastructure is expected amid technology and competitive change.

• India GDP growth was estimated at ~7.6% for FY24, with ~7% projected for FY25, supported by moderating inflation, a normal monsoon and services and manufacturing momentum.