Sistema Shyam Teleservices reports Rs.666.4 crore net loss
June 7th, 2011 - 7:23 pm ICT by IANSNew Delhi, June 7 (IANS) Sistema Shyam Teleservices (SSTL), the joint ventures of Russia’s Sistema and Shyam group of India, Tuesday reported a net loss of Rs.666.4 crore during the quarter ended March 31, owing to increase in operational costs following its expansion across all circles.
The revenue, however, grew 201 percent at Rs.236 crore against Rs.78.6 crore during the like period of the previous financial year.
“The capital expenditure investments made by SSTL in India to date stands at Rs.5,800 crore. This includes the investment of Rs.297 crore made during the first quarter of 2011,” the company said in a statement.
“Consolidated debt from banks and financial institutions now stands at Rs.5,584 crore,” it added.
The average revenue per user of the company, which operates its telecom services under the brand name MTS, remained steady at Rs.80 against a declining trend in the market. It reported 10.5 million subscribers as on March 31, an increase of 19 percent over the previous quarter.
“The growth in subscriber base of the company was largely driven by further strengthening of the distribution network, an increase in its retail universe across India and contribution by newly launched circles,” the statement added.
“For the first time, our revenue growth during the quarter was faster than our growth in wireless subscribers. This is a strong reflection of our continued efforts to target quality customers.”
The telecom service provider also expanded its mobile data services to 130 cities in India, including all five metros during the end of the quarter under review. The number of data subscribers increased by 36 percent over previous quarter’s 580,000.
- SSTL reports quarterly loss of Rs.657.6 crore - Sep 07, 2011
- SSTL's quarterly net loss rises to Rs.1,197 crore - Apr 11, 2012
- Sistema Shyam TeleServices raises Rs.1,280 crore - Jan 12, 2012
- Sistema Shyam issues over 547 mn shares to Russian government - Mar 30, 2011
- MTS launches zero paisa plan to retain customers - Feb 09, 2012
- Russian Sistema's India unit to appoint banks for IPO - Mar 15, 2011
- Russia, India to discuss Sistema licence during BRICS summit - Mar 26, 2012
- Sistema-Shyam launches MTS in Gujarat - Dec 03, 2010
- Sistema to contest Supreme Court verdict on 2G licence - Feb 03, 2012
- Sistema gives India 6 months to settle 2G licences row - Feb 28, 2012
- Sistema Shyam gets Rs.500 cr loan to fund expansion - Mar 30, 2010
- Shyam-Sistema denies TRAI's charges - Nov 18, 2010
- MTS to spend Rs.100 crore on data services in Gujarat - Mar 03, 2011
- Sistema Shyam to decide on IPO by year-end - Sep 06, 2010
- SSTL launches mobile broadband services in Andhra - Mar 23, 2011
Tags: 5 million, brand name, capital expenditure, circles, distribution network, financial institutions, first quarter, joint ventures, metros, million subscribers, mobile data services, New Delhi, operational costs, quality customers, quarter ended march, reflection, subscriber base, telecom service provider, telecom services, wireless subscribers