Sistema-Shyam Teleservices Ltd (SSTL) a joint venture between Russian firm Sistema and India's Shyam group, on Thursday reported a net loss of Rs 605 crore during the fourth-quarter ended December 31, 2010. The company had a net loss of Rs 383.9 crore in the same period a year ago, SSTL said in a release.

SSTL is the first private unlisted telecom operator to disclose its country-specific financial performance.

Consolidated revenues were up to Rs 193 crore during the fourth quarter of 2010 compared with Rs 66 crore. Consolidated debt for banks and financial institutions now stands at Rs 5,570 crore.

Mr Vsevolod Rozanov, President and Chief Executive Officer of Sistema Shyam Teleservices Ltd, said, “The results are a reflection of our improving performance in one of the world's most competitive telecom market. SSTL continues to deliver on its key strategic goals based on its ‘Data centric- Voice enabled' strategy.”

The investments made by SSTL in India to date stand at Rs 5,600 crore, this includes the investment of Rs 571 crore made for the FY 2010. SSTL's mobile subscriber base increased to 8.4 million as of December 31, 2010. The growth in its subscriber base was largely driven by further strengthening of the distribution network and an increase in its retail universe across India, the company said.

Mobile subscribers' MOU stayed approximately at the same level on a QoQ basis at 309 minutes. Data Average Revenue Per User in Q4 was down one per cent and was up for FY2010 by 625 per cent to Rs 274 and Rs 261, respectively. Blended mobile ARPU increased by 5.1 per cent QoQ from Rs 78 to Rs 82. ARPU has grown for three consecutive quarters for the company in a declining market.

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