‘TTML Lenders May Re­call .₹ 1,911 cr Loans’

The Economic Times - - Companies: Pursuit Of Profit -

Lenders of Tata Te­le­ser­vices (Ma­ha­rash­tra) (TTML) may re­call loans of .₹ 1,911 crore as the com­pany has not been able to sat­isfy them with its fi­nan­cial per­for­mance, as per a com­pany note.The com­pany in a fil­ing to BSE on Tues­day re­ported a loss of .₹ 506 crore for the quar­ter ended on June 30, 2017, against that of .₹ 127.45 crore in the same pe­riod of last year mainly due to dip in rev­enues and over two-fold jump in fi­nance cost.“The com­pany has not been able to sat­isfy the fi­nan­cial covenants stated in agree­ments with lenders of long term bor­row­ings and lenders of ex­ter­nal com­mer­cial bor­row­ings which may re­sult in loans ag­gre­gat­ing to .₹ 191,111 lakh be­ing re­called by the lenders,”Tata Te­le­ser­vices (Ma­ha­rash­tra) (TTML) said in the notes.

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