Sistema Shyam on Wednesday said that it will continue to invest in India even as the future of its licences is uncertain.

The company's losses has increased to Rs 1,197 crore during the fourth quarter ended December 31, 2011.

The telecom company had losses of Rs 604 crore during the corresponding quarter last year. Revenues, however, increased to Rs 392 crore compared to Rs 193 crore earlier.

Minutes of Usage also declined to 288 minutes per user per month compared to 291 minutes in quarter three of 2011. The decline in MoU was mainly because of the decreasing share of free on-net minutes.

According to Vsevolod Rozanov, President and Chief Executive Officer of Sistema Shyam Teleservices Ltd, “Due to the nature of the telecom business and the aggressive expansion plans of the company, net income continues to be negative. In-addition, the current operating environment also remains uncertain. In spite of all these challenges, SSTL remains committed to further expand its voice and data business and looks upon the Indian Government to move fast to resolve all issues being faced by the telecom sector.”

Related Topics