Sistema Shyam's net loss narrows to Rs.528 crore

Sistema Shyam's net loss narrows to Rs.528 crore New Delhi: 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.

IANS