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.