Sistema Shyam TeleServices posts Rs 658 cr Q2 loss

NEW DELHI: Sistema Shyam TeleServices, which retails CDMA-based mobile services under the MTS brand, has reported a net loss of 657.6 crore for the quarter ended June.

The company, a JV between Sistema of Russia and Shyam Group of India, had posted a net loss of 661.3 crore in the year-ago period.

The company said the loss was a reflection of the challenges faced by the telecom industry in India and the lower minutes of usage of its subscribers, which dipped to 295 minutes in Q2 from 305 minutes in Q1 of FY12.

But the company, which claims to have the lowest amount of airwaves among all mobile operators, said it managed to keep blended average revenue per user stable at 82 in the last three quarters.

The company's consolidated revenue shot up nearly 164% to 278.2 crore in the quarter from 105.5 crore in the corresponding quarter of last year.