SSTL reports a net loss of Rs 4 billion for the quarter ended June 2015

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SSTL reports a net loss of Rs 4 billion for the quarter ended June 2015

August 26, 2015

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Sistema Shyam Teleservices (SSTL) has reported a net loss of Rs 4,004 million for the quarter ended June 2015 as against a net loss of Rs 4,025 million reported in the corresponding quarter in 2014.

The company has, however, reported a 12 per cent increase in revenues from Rs 3.34 billion during quarter-ended June 2014 to Rs 3.74 million in the corresponding period in 2015. This growth was largely by increase in data revenues, reduced interconnect charges and cost optimisation measures.

Meanwhile, the operating income before depreciation and amortisation (OIBDA) declined from Rs 1.36 billion for the quarter ended March 2015 to Rs 541 million for the quarter ended June 2015.

Further, SSTL’s mobile subscriber base stood at 8.7 million as of June 30, 2015. Non-voice revenues, from both data and mobile value added services (VAS) increased by 13.4 per cent to Rs 2.07 billion for the period under consideration. The company’s debt from banks and financial institutions stood at Rs 4,312 million at the end of June 2015.