SSTL reports quarterly loss of Rs.657.6 crore
September 7th, 2011 - 7:00 pm ICT by IANSNew Delhi, Sep 7 (IANS) Sistema Shyam TeleServices Limited (SSTL), operating its telecom services under the MTS brand in India, Wednesday reported a net loss of Rs.657.6 crore (over $140 million) for the quarter ended June 30.
The company posted a net loss of Rs.661.3 crore during the same period of the previous financial year, SSTL said in a statement.
The revenue of the company, however, rose to Rs.278.2 crore during the quarter under review as compared to Rs.105.5 crore during the same period an year ago.
Its mobile subscriber base increased by 17 percent quarter-on-quarter and reached 11.7 million as of June 30. India has over 850 million subscribers.
“In spite of the continued challenges faced by the telecom industry in India, SSTL is on track to successfully execute its data centric — voice enabled strategy. We have received an extremely favourable response from the market to our strategy,” said Vsevolod Rozanov, president and chief executive officer, SSTL.
According to the company, the growth in the subscriber base of the company was largely driven by strengthening of the distribution network, an increase in its retail universe across India and contribution by newly-launched circles.
The capital expenditure investments made by SSTL in India at the end of the quarter ended June 30 stood at Rs.6,080 crore.
Consolidated debt from banks and financial institutions at the end of the period stood at Rs.5,736.7 crore.
- SSTL's quarterly net loss rises to Rs.1,197 crore - Apr 11, 2012
- Sistema Shyam Teleservices reports Rs.666.4 crore net loss - Jun 07, 2011
- Sistema Shyam issues over 547 mn shares to Russian government - Mar 30, 2011
- Russian Sistema's India unit to appoint banks for IPO - Mar 15, 2011
- Sistema Shyam expects 10 mn user base by December - Mar 25, 2010
- Nestle India Q1 net profit up 9.75 percent - Jul 30, 2011
- Tata Teleservices: Net loss is Rs.119.32 crore - Jul 26, 2011
- Sistema-Shyam launches MTS in Gujarat - Dec 03, 2010
- MTS subscriber base crosses 5 million mark - Jun 23, 2010
- Idea Cellular quarterly net profit declines 12 percent - Jul 29, 2011
- Idea Cellular quarterly net profit falls 13 percent - Apr 26, 2012
- Tata Teleservices has Rs.80 crore net profit in 2010-11 - Apr 26, 2011
- GAIL India Q1 net profit rises 11 percent - Jul 27, 2011
- MTS launches advanced broadband service - Sep 01, 2011
- Castrol India Q4 net profit rises 16.55 percent - Apr 27, 2011
Tags: banks, capital expenditure, challenges, chief executive officer, circles, distribution network, favourable response, financial institutions, investments, million subscribers, mobile subscriber, New Delhi, quarter ended june, quarterly loss, rs 6, spite, subscriber base, telecom industry, telecom services, teleservices