SSTL Reports Narrowing
Telecom operator Sistema Shyam TeleServices (SSTL), which operates below MTS brand name, said narrowing of its net loss at Rs. 437.9 crores in the 3-month duration ended September 30, helped via discount in overseas change loss.
the company had said a web lack of Rs. 760.1 crores in the identical period a year in the past.
The revenue of the company elevated by 20 % to Rs 342.7 crores all through the pronounced length as in comparison with Rs. 284.4 crores in the third quarter of 2013.
“Throughout the quarter, our non-voice revenues grew by way of 14 %, thereby contributing 43 % of the whole revenues. Our net profits greater via 42 % mainly as a consequence of significant reduction in foreign exchange loss,” SSTL Chief government Officer Dmitry Shukov stated right here.
the corporate mentioned a overseas change lack of Rs. 60.7 crores in the quarter as in comparison with Rs. 206.8 crores in the corresponding duration in 2013.
the corporate noticed an increase of 14 % in non-voice earnings that includes cell web and other worth delivered products and services at Rs. 147.5 crores.
SSTL Reports Narrowing of Net Loss in Q3 to Rs. 437.9 Crores
“Success of SSTL’s information strategy is evident with non-voice revenues contributing 43 % of whole quarterly revenues, easiest within the business. To further improve the info story in India, it is imperative that the government comes out with a transparent roadmap on spectrum sharing and buying and selling,” Shukov stated.
He mentioned that the corporate is unable to make its future investment plans as a result of lack of clarity on CDMA spectrum public sale.
SSTL’s knowledge card subscriber base increased by means of 6.3 % to 15 lakh all the way through the quarter.
the company’s operating profits before depreciation and amortization – a trademark of cash waft, loss – decreased by means of 53 % yr-on-year at Rs. 103.7 crores from Rs. 219.7 crores stated in 1/3 quarter of the previous fiscal.
“Non voice income boom together with price regulate has helped OIBDA margins to fortify additional throughout the quarter.
The go forward plan contains, persevering with with investments in operations to force maximum worth from our 3G Plus network,” SSTL acting Chief monetary Officer Vinay Mittal stated.
SSTL’s cellular subscriber base all through the pronounced period remained flat quarter-on-quarter basis and reached 92 lakh.