SSTL Net Lows Narrows to Rs. 402.5 Crore in Q2

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SSTL Net Lows Narrows to Rs. 402.5 Crore in Q2
Sistema Shyam Teleservices' (SSTL) net loss narrowed down to Rs. 402.5 crore in the second quarter (April-June) of 2014 compared to net loss of Rs. 844.7 crore reported during the corresponding period last year, a company statement said here Monday.

The company operates under MTS brand name and follows the January-December fiscal.

Total revenues of the company increased by 15 percent to Rs. 334.8 crore for the reported period against Rs. 290.9 crore posted during the corresponding period last year.

"During the quarter, our consolidated revenues grew by 5 percent quarter-on-quarter, driven by growth in non-voice revenues. These results are a testament of the market acceptance of our world class 3G plus network. Going forward, we expect strong momentum to continue, especially in our data business," Dmitry Shukov, chief executive officer of SSTL said.

The non-voice revenues grew 14 percent during the quarter. The data card subscriber base of the company for the quarter increased by 8.5 percent to 1.4 million subscribers.

SSTL in July announced the launch of MTS MBlaze Power Wi-Fi, an integrated device with router and power bank, which ensures that the user's smartphone and tablet never runs out of battery and has constant access to the Internet.

The MBlaze Power Wi-Fi dongle packs a 5200mAh battery bank and can provide hi-speed data connectivity to up to 6 devices including smartphones, tablets, laptops, smart TVs, gaming consoles on MTS' 3G+ telecom network, it added.

Priced at Rs. 2,999 for prepaid customers and Rs. 3,499 for postpaid customers, MBlaze Power Wi-Fi also supports media sharing on all devices connected via Wi-Fi, and comes with 10GB of bundled data. Users can store up to 32GB data on the device with a microSD card.

Written with inputs from IANS

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