Sistema Shyam’s net loss narrows to Rs.528 croreMay 29th, 2012 - 8:43 pm ICT by IANS
New Delhi, May 29 (IANS) Telecom service provider Sistema Shyam Teleservices (SSTL) Tuesday said it has narrowed its net loss to Rs.528 crore during the quarter ended March 31.
The company, which offers CDMA services under MTS brand, had posted a net loss of Rs.666 crore during the like period of the previous financial year.
However, the consolidated revenue has risen by 3.8 percent to Rs.407 crore against the previous quarter.
The firm stands to lose its licences following the Supreme Court’s order to cancel 122 licences issued in 2008.
“Inspite of numerous legal and regulatory challenges being faced by the entire telecom industry, SSTL has delivered strong results. The company continued to stay true to its focus on driving operational efficiencies across all areas of its business,” said Vsevolod Rozanov, president and chief executive officer of SSTL.
“Our non-voice revenues continued to grow in double-digits. It now contribute more than 35 percent of the total revenues of SSTL, which is amongst the highest in the industry,” he added.
The firm also said its total wireless subscriber base for the quarter grew by 5.3 percent to 15.82 million.
Non-voice revenues from both data and mobile value added services for the quarter grew up by 11.5 percent compared to previous quarter to Rs.143 crore, which now contributes over 35 percent of total revenue.
Blended mobile average revenue per user for the quarter stood at Rs.85.
The CAPEX investments made by SSTL in India at the end of March 31stood at Rs.64.74 billion, this includes the investment of Rs.1,213 million made during the first quarter of 2012.
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- Decision on 2G auction participation only by October: SSTL - Sep 10, 2012
- Sistema-Shyam launches MTS in Gujarat - Dec 03, 2010
- Sistema Shyam issues over 547 mn shares to Russian government - Mar 30, 2011
- Sistema Shyam Teleservices reports Rs.666.4 crore net loss - Jun 07, 2011
- Russian Sistema's India unit to appoint banks for IPO - Mar 15, 2011
- Sistema Shyam to decide on IPO by year-end - Sep 06, 2010
- Bharti Airtel quarterly net income down 28 percent (Lead) - May 02, 2012
- MTS launches two Android phones for below Rs.5,000 - Aug 31, 2011
- Idea Cellular quarterly net profit falls 13 percent - Apr 26, 2012
- MTS launches advanced broadband service - Sep 01, 2011
- Minimum bid price for 2G spectrum too high: SSTL - Aug 07, 2012
- Bharti Airtel quarterly revenue rises by 17 percent - Feb 08, 2012
- SSTL files review petition in Supreme Court - Mar 02, 2012
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