Sistema Shyam TeleServices Limited (SSTL) has released its results for the quarter ended June 30, 2012.
According to the company, its consolidated revenues increased by 2.6 per cent quarter-on-quarter to Rs 4,177 million. Its total wireless subscriber base for the quarter grew by 4.9 per cent to 16.60 million.
SSTL?S non-voice revenues for the quarter increased by 3.9 per cent quarter-on-quarter to Rs 1,484 million, which now contributes to 35.5 per cent of its total revenue.
Commenting on the results, Vsevolod Rozanov, president and chief executive officer, SSTL, SAYS, ?The recent regulatory and tax developments have significantly impacted the growth of the Indian telecom industry. Despite these challenges, SSTL has maintained its scale of operations and has also grown its business by further strengthening all its revenue lines. Our data card subscriber base continues to grow in double digits despite the recent tariff reduction by 3G operators. Going forward, the plan includes to continue our focus on driving operational efficiencies and to provide greater value to all our stakeholders.?
SSTL?s mobile subscriber base increased by 4.9 per cent quarter-on-quarter to reach 16.60 million customers as of June, 2012. Its mobile subscribers? minutes of use declined from 296 minutes in the first quarter of 2012 to 281 minutes for the second quarter of 2011. The operators? subscriber market share increased from 1.72 per cent from the first quarter of 2012 to 1.77 per cent in the second quarter of 2012.
SSTL has reported an operating income before depreciation and amortisation loss (OIBDA) of Rs 4,509 million for the second quarter of 2012 registering an improvement in OIBDA margin by 39 p.p. year-on-year. The margins improved as a result of increase in the scale of the business. In comparison to the first quarter of 2011, SSTL?s revenue for the second quarter of 2012, improved by 50 per cent. The revenue growth was driven by 41 per cent increase in subscriber base over the second quarter of 2011. At the end of the second quarter of 2012, SSTL has 1.73 million data subscribers at the end of June 2012.
The CAPEX investments made by SSTL in India at the end of June, 2012 stood at Rs 65.35 billion. For the same period the accumulated losses of SSTL aggregated to Rs 96.06 billion. Operator?s consolidated debt from banks and financial institutions at the end of June, 2012 stands at Rs 92.96 billion.
