Uninor Q2 loss widens at Rs 169.83 cr

Telecom operator Uninor today reported widening of operating loss at about Rs 170 crore for the second quarter ended June 30.
The company had reported loss of about Rs 102 crore in the same quarter a year ago.
Its Q2 revenue increased however by 46.34 per cent to about Rs 1,020 crore from Rs 697 crore in the year-ago period.
In terms of Norwegian Krone, revenue of Uninor increased by 40.3 per cent to NOK 1,021 million in Q2, 2014 from NOK 728 million in Q2, 2013.
The difference between the growth in terms of NOK and INR has been due variation in exchange rates.

"I am pleased to note strong performance by our operations in Sweden and Malaysia as well as growth in Pakistan, Bangladesh and India," President and CEO of Telenor Group, Norway's parent company of Uninor, Jon Fredrik Baksaas said in financial report.

During the quarter Uninor added over 2 million new subscribers in India over the last quarter. Uninor has 39.3 million subscribers at the end of June as per industry data released by COAI.
"In two of the three months of this quarter for which reports have been published, Uninor has added more subscribers in its six circles than any other mobile operator on any platform. This shows the success of our mass market strategy. Sabse Sasta voice and sabse sasta Internet for all," Uninor CEO Morten Karlsen Sorby said.

Uninor said its Internet subscriber base during the quarter improved by 32 per cent since the beginning of the year while the revenue from Internet services grew by 42 per cent. The company did not disclose actual numbers related to its mobile Internet subscribers.
The company operates in six circles of UP East, UP West, Bihar (including Jharkhand), Andhra Pradesh, Maharashtra (including Goa) and Gujarat.
It recently acquired spectrum in the seventh circle of Assam and expects to launch the service shortly.