SSTL Q2 net loss down
Aug 30, 2013 (MarketLine via COMTEX) --
Sistema Shyam TeleServices Ltd., or SSTL, has reported that net loss for the second quarter ended June 30, 2013 was INR8.45 billion, compared to a net loss of INR11.8 billion for the same quarter ended June 30, 2012.
Revenues for the second quarter ended June 30, 2013 were INR2.91 billion, compared to INR4.18 billion for the same quarter ended June 30, 2012.
Operating loss before depreciation and amortization for the second quarter ended June 30, 2013 was INR2.19 billion, compared to an operating loss before depreciation and amortization of INR4.51 billion for the same quarter ended June 30, 2012.
Dmitry Shukov, CEO of Sistema Shyam Teleservices Ltd., said: "SSTL during the quarter focused on further optimizing its operations after the finalization of its 9 circle footprint in March 2013. We continue to invest in our business to further strengthen our data offerings. On the regulatory front, while 100% FDI in telecom is a welcome move, however a lot more needs to be done to bring further investments in the sector. We are hopeful that the government will do its best to bring back investor confidence."
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