Sistema Shyam TeleServices Limited (SSTL) has reported a loss of Rs 4.81 billion for the quarter ended December 2014, as against the loss of Rs 4.45 billion registered during the corresponding quarter in 2013. This was on account of increase in sales and marketing expenses and forex losses. Meanwhile, the operator’s revenues increased to Rs 3.50 billion from Rs 2.99 billion, during the same period.

Further, SSTL’s subscriber base declined on quarter-on-quarter basis and stood at 9 million as of December 31, 2014. However, operator’s non-voice revenues, from both data and mobile value added services, for the quarter under review increased by 11.5 per cent to Rs 1.64 billion. In addition, for the quarter ended December 2014, the operator’s investments stood at Rs 1.39 billion and its debt from banks and financial institutions stood at Rs 38.27 billion

For the full year, SSTL’s net loss narrowed to Rs 16.38 billion in 2014 from
Rs 26.94 billion in 2013, while revenue rose to 13.47 billion from Rs 12.27 billion, during the same period.

Commenting on the results, Sergey Savchenko, chief financial officer, SSTL, said,” During the quarter, the company has invested in sales and marketing, which has resulted in decline in operating income before depreciation and amortisation. We expect revenues to improve further on back of sales and marketing activities taken during fourth quarter of 2014. The company will continue to invest in operations to drive maximum value from its 3G Plus network.”

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