Close to pan-India break-even: Uninor

Annually, Uninor's revenues in the six circles across the country grew 7%

Norwegian telecom major Telenor on Tuesday reported 2.4 per cent growth in the organic revenues of its India venture Uninor for the quarter ended June at 725 million Norwegian kroner (Rs 725 crore), against Norwegian kroner 708 million (Rs 708 crore) for the quarter ended March.

Annually, Uninor’s revenues in the six circles across the country grew seven per cent. “This is despite the negative development in Maharashtra, following closure of the Mumbai circle earlier this year,” Uninor said. The company claimed it was inching towards a pan-India break-even, without giving a timeline for it. It has already recorded break-even in three of the six circles — Andhra Pradesh, Uttar Pradesh East and Gujarat.

The company recorded negative cash flow of Norwegian kroner 194 million (Rs 194 crore), against Norwegian kroner 221 million (Rs 221 crore) in the quarter ended March. The company is targeting cash flow break-even by the end of this year.

Ebitda (earnings before interest, tax, depreciation and amortisation) loss improved to Norwegian kroner 153 million (Rs 153 crore).