Telecom operator Uninor incurred expenses of around Rs 48 crore towards shutting down its Mumbai operations in February.
Telenor, the parent company of Uninor in ‘pre Q1 2013 estimates’ said these expenses will be shown in the first quarter financials of the current fiscal (January 13 to December 13) of the group.
“The operation in Mumbai was shut down on February 17.
The shut-down costs are estimated at around NOK (Norwegian Krone) 50 million (Rs 47.8 crore as on today), and will be booked as “other item” in Q1 2013,” Telenor said.
The Supreme Court in February 2012 cancelled 22 licences of Uninor. The majority stakeholder of the company, Telenor participated in the November 2012 auction through new entity Telewings Communications and won spectrum in six circles.
Following the court order, Uninor said it closed its Mumbai operations from midnight of February 16.
Telenor now operates in six circles — Maharashtra and Goa, Gujarat, UP East, UP West, Bihar and Jharkhand and Andhra Pradesh.
“According to subscriber numbers published by COAI, our remaining six circles saw a subscriber growth of 280k in January and 122k in February. Please keep in mind that these numbers are based on 60 days definition of active subscribers, whereas our financial reporting for the Indian operation applies a 30 days definition of active subscribers,” Telenor said in the pre Q1 estimates.