TTSL reports improvements in net losses for 3Q

Indian telco Tata Teleservices (TTSL) has reported its financial results for the three months ended 30 September 2008, posting a 4% decline in net losses for the quarter, down from INR49.31 million (USD1.2 million) last year to INR 47.35 million. Revenues for the operator increased 21% year-on-year, climbing to INR5.18 billion for the three-month period, whilst earnings before interest, tax, depreciation and amortisation (EBITDA) grew 52% in the same period to reach INR1.61 billion. According to TeleGeography’s GlobalComms database, recent rumours have suggested that Japanese mobile communication group NTT DoCoMo is considering the acquisition of a 26% stake in the Indian operator.