Sistema Shyam's net loss 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.