Spice Mobility posts Rs 222.5-cr net loss in Q3

PTI New Delhi | Updated on January 24, 2018 Published on February 11, 2015

Homegrown handset player Spice Mobility today reported a consolidated net loss of Rs 222.5 crore for the quarter ended December 31, 2014.

The firm had posted a net profit of Rs 1.08 crore in the year-ago period.

Consolidated net sales rose marginally to Rs 569.96 crore during October-December quarter of this fiscal from Rs 567.04 crore in the same quarter of 2013-14 fiscal, the company said in a BSE filing.

Last month, the company had announced that it will set up a manufacturing unit in Uttar Pradesh with an investment of about Rs 500 crore to make affordable mobile phones in the country.

Spice Mobility has inked a memorandum of understanding with the UP Government wherein it will get the State Government’s support in establishing the facility in a time-bound manner.

It will also facilitate the necessary infrastructure, ecosystem and incentives under various schemes announced by the State and Centre.

The unit will have a capacity of about 1-2 million handsets a month, which will be gradually expanded to five million.

Published on February 11, 2015
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