Tata Teleservices (Maharashtra) Limited (TTML) has reported a loss of Rs 1.69 billion for the quarter ended December 2014, as against the loss of Rs 1.56 billion for quarter ended December 2013. The company registered higher losses despite an 8.1 per cent increase in net revenues from Rs 6.82 billion in October-December 2013 to Rs 7.38 billion in October-December 2014.

Meanwhile, the company’s earnings before other income, finance cost and exceptional items reduced from Rs 344.5 million for the quarter ended December 2013 to Rs 33.3 million for the corresponding quarter in 2014.

On the upside, the data traffic on TTML’s GSM network registered a 70 per cent year-on-year increase and contributed to its data revenues which have doubled during the same time.

Meanwhile, the company has also received approval from its Board of Directors for the issue of non-convertible debentures up to an amount of Rs 25 billion. According to the company, the amount will be raised in one or more tranches through the private placement route. The proposal will now to be put forward for the approval from shareholders of TTML.