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SSTL Q4 net loss goes down compares to 2012

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V&D Bureau
New Update

Sistema Shyam Teleservices (SSTL), which operates under MTS brand has reported a 9.65% reduction in losses during 2013 at Rs 2,694.2 crore as compared with Rs 2,982.1 crore during 2012.

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During the September-December 2013 quarter, the company narrowed down loss to Rs 445.50 crore, as against Rs 778.70 crore in the corresponding quarter last year.

"Net loss during the quarter reduced by 42.8% year-on-year basis, mainly on account of forex gains and lower interest expenses," said Dmitry Shukov , Chief Executive Officer of SSTL.

"During the quarter all our operational parameters have improved, which in turn resulted in revenue growth of 5.3% Q-o-Q. Given that we had launched our 3G Plus network in the latter part of Q4 2013, we expect the trend of revenue improvement to continue," said Shukov.

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The company has reduced its net loss despite a 24.2% fall in annual revenue during 2013 at Rs 1,227 crore as against Rs 1,619.2 crore in 2012.

"OIBDA margins continued to improve for SSTL on the back of revenue growth and also strict control over costs. The go forward plan includes, continuing with investments in operations to drive maximum value from our 3G Plus network," said Sergey Savchenko, Chief Financial Officer of SSTL.

The company said that around 34.5% of its revenue comes from data, has a 40% market share in dongles segment.

The company's operating loss before depreciation and amortisation reduced by about 25 per cent to Rs 208.1 crore during the quarter from Rs 278.6 crore it posted in same period in 2012.

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