Sistema Shyam TeleServices Limited (SSTL) has narrowed its losses from Rs 11.18 billion in the quarter ended June 30, 2012 to Rs 8.45 billion in the corresponding period in 2013.

The operator has managed to reduce its losses with the closure of operations in 13 circles following the cancellation of 21 of its licences by the Supreme Court in February 2012. For the quarter under review, SSTL’s revenue in the 9 circles where it currently offers telecom services registered a growth of 2.4 per cent. However, on quarterly basis the service providers’ customer base declined by 19 per cent. At the end of June 30, 2013, the operators’ subscriber base stood at 9.8 million.

Further, SSTL lowered its operating income before depreciation and amortisation losses from Rs 4.50 billion in the second quarter of 2012 to Rs 2.19 billion in the second quarter of 2013.  The total revenue of the company declined on yearly basis from Rs 4.17 billion in the second quarter of 2012 to Rs 2.90 in the corresponding period in 2013 owing to the reduction in the company’s footprint in the country.

Further, the operator’s revenues from both data and value added services declined by 20 per cent and stood at Rs 1 billion.  Meanwhile, for the quarter under review, SSTL’s losses on account of depreciation in value of rupee stood at Rs 3.29 billion. For the period under review, SSTL invested Rs 154 million and its total debt stood at Rs 41.87 billion.