SSTL posts net loss of Rs 11,801 mn in Q2 2012

Sistema Shyam TeleServices' (SSTL) net income has dipped by 124% Q-o-Q, its net income stood at Rs 11,801 million in the second quarter 2012 as against Rs 6,576 million in Q2 2011. While it posted a consolidated revenue of Rs 4,177 million, up by 2.6% in quarter-over-quarter (Q-o-Q).

Non-voice revenues from both data and mobile VAS for the quarter increased by 3.9% Q-o-Q to Rs 1,484 million. Its ARPU for the quarter declined by 2.3% to Rs 83.

SSTL's net income during the quarter suffered from the adverse movement in exchange rate resulting in recording of forex losses with respect to Long Term Foreign Currency denominated loans, as Rupee depreciated considerably against the dollar during the quarter, stated a press note.

"The CAPEX investments made by SSTL in India at the end of 30thJune 2012 stands at Rs 65.35 billion. Accumulated losses of SSTL as at 30thJune 2012 aggregated to Rs 96.06 billion. debt from banks and financial institutions at the end of 30thJune 2012 stands at Rs 92.96 billion," said the note.