Sistema Shyam Teleservices Ltd (SSTL), which operates under brand name MTS, on Tuesday reported a loss of Rs.445 crore in the quarter ending December 31,2013, against the loss of Rs.778.7 crore posted in the same period a year ago. Its revenue in the quarter went down by 23 per cent at Rs.299.6 crore against Rs.390.2 crore posted in October-December 2012.
"SSTL's net loss during the quarter reduced by 42.8 per cent year on year basis. The net loss reduced mainly on account of foreign exchange gains and lower interest expenses," SSTL Chief Executive Officer Dmitry Shukov told journalists here.
For the entire year (2013), SSTL's loss stood at Rs.2,694.2 crore as against Rs.2,982.1 crore reported in 2012, while its revenue stood at Rs.1,227 crore in 2013 against Rs.1,619.2 crore in 2012.
SSTL currently operates in nine telecom circles - Delhi, Kolkata, Gujarat, Karnataka, Tamil Nadu, Kerala, Uttar Pradesh (West), West Bengal and Rajasthan.
In the last quarter of 2013, it invested Rs.37.4 crore in its operations while the telecom firm launched its high speed data service '3G Plus' in 550 towns across all nine circles.
According to SSTL Chief Financial Officer Sergey Savchenko, the company would continue to investment more in its operations to drive maximum value from '3G Plus' broadband network. Data services contributed 34.5 per cent in SSTL revenue during the quarter, which is highest in percentage terms in the industry.