SSTL result announced: Increase in subscriber base

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SSTL result announced: Increase in subscriber base
Shyam Telecom: Quotes, News
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Owners of the MTS brand in the telecom sector, Sistema Shyam TeleServices, announced its results. As per its unaudited result as per the unaudited US GAAP financial results where in the consolidated revenues were by 22% quarter-on-quarter (q-o-q) to Rs 2,362 million.

Also as per the official release, blended mobile ARPU for the quarter remained consistent at INR 82, as against a declining trend in the market. Also during the period, the high-speed data (HSD) services expanded to 130 cities of India by the end of Q1 2011.

On the occasion, Vsevolod Rozanov, President and Chief Executive Officer of Sistema Shyam Teleservices, said “We are pleased to report the continued success of our 'data centric - Voice enabled' strategy." He further added that the MTS' brand, now ranked the company as the 80th among the top 100 most valuable brands in the world as per the latest Millward Brown report.

SSTL's saw its mobile subscriber base increase by 19% q-o-q and reached 10.05 million customers as of March 31, 2011. The growth in subscriber base of the company was largely driven by further strengthening of the distribution network, an increase in its retail universe across India and contribution by newly launched circles. Mobile subscribers' MoU for Q1 2011 stayed approximately at the same level Q-o-Q at 305 min.

The capital expenditure made by SSTL in India to date stand at Rs 5,800 crore. This includes the investment of Rs 297 crore made during Q1, 2011. Consolidated debt from banks and financial institutions now stands at Rs 5,584 crore.

During the quarter, SSTL completed all formalities relating to the allotment of shares to the Russian government. The company issued 54,73,12,918 equity shares against the funds equivalent of Rs 2,698.8 crore ($600 million) received in December, 2010.

The Wireless industry grew robustly in Q1 2011 and added 59 million subscribers. Total subscriber base reached 812 million and wireless tele-density was 68% at the end of Q1 2011. During this period MTS India's subscriber market share increased from 1.12% in Q4 2010 to 1.24% in Q1 2011.

The capital expenditure incurred by the company in India stands approximately at Rs 5,800 crore. It includes the Rs 297 crore worth of investment made during Q1, 2011. The total debt from banks and financial institutions for the company now stands at Rs 5,584 crore.

SSTL also completed the formalities regarding the allotment of new shares to the Russian government. The company issued 54,73,12,918 equity shares for the funds that are equivalent to Rs 2,698.8 crore received in December, 2010.

OneIndia Money

Story first published: Tuesday, June 7, 2011, 16:49 [IST]
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