Spice Mobility Limited has reported a loss of Rs 2.22 billion for the quarter ended December 2014, against a net profit of Rs 10.8 million for the quarter ended December 2013. The losses were on account of an increased expenditure of Rs 5.99 billion in October-December 2014, a 5.64 per cent increase over the expense of Rs 5.67 billion incurred in October-December 2013.  This is despite the fact that the company realised a marginal increase in its net revenues from Rs 5.67 billion to Rs 5.69 billion for the period under consideration.

Spice Mobility’s losses from its mobile device business widened from Rs 14.7 million for the quarter ended December 2013 to Rs 292.1 million for the corresponding quarter in 2014. However, its services business reported an increase of 23.63 per cent from Rs 40.2 million in October-December 2013 to Rs 49.7 million in October-December 2014.