Sistema Shyam TeleServices Limited (SSTL) has posted its unaudited consolidated financial results for the first quarter ended March 31, 2013. For the period under review, the company’s consolidated revenue stands at $65 million registering a quarter-on-quarter decline of 10 per cent.
As of March 31, 2013, non-voice revenues contributed 35.7 per cent of the company’s total revenues on a quarterly basis. For the quarter under review, the operator’s blended mobile average per user increased by 2.5 per cent and stood at Rs 81. On quarter-on-quarter (q-o-q) basis the company’s minutes of usage reached 295, a 10 per cent increase.
In the first quarter of 2013, the company’s data card subscriber base declined by 12 per cent and stood at 1.56 million. Following the new subscriber acquisition policy, the company’s data card subscriber base declined by 1 per cent in nine circles. For the period under review, SSTL has reported the lowest quarterly operating income before depreciation and amortisation (OIBDA) loss in the last three years. Its consolidated OIBDA loss for the quarter stood at $39 million with quarterly OIBDA margins improving by11 p.p.
In the first quarter of 2013, the operators’ revenues decreased by 14 per cent year-on-year to $35.2 billion on account of discontinuation of services in 13 circles, regulatory uncertainty and new regulatory requirements for customer registration. Moreover, the number of subscribers was further impacted due to strict control over sales and marketing expenditures, aggressive tariffs and market competition.
Further, the operator’s subscriber base declined by 20 per cent on q-o-q and reached 11.92 million. Non-voice revenues, from both data and mobile value added services, for the quarter declined by 13 per cent.
