Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Sistema Shyam Teleservices’ (SSTL) net loss for the fourth quarter widened from a year earlier, hurt by higher sales and marketing costs and forex losses, but revenue rose 17% as subscribers used more of its premium data services.
For the October-December, net loss for the telco that operates under MTS brand came in at Rs481.4 crore as against a loss of Rs 445.5 crore in the same quarter of the previous year. Revenue was Rs350.8 crore compared with Rs299.6 crore a year back.
For the full year, net loss narrowed sharply to Rs1,638 crore from Rs2,694.2 crore in 2013, while revenue rose 10%.
“During the quarter, our non-voice revenues grew by 11.5% thereby contributing 47% of the total revenues, the highest in the industry,” Dmitry Shukov, Chief Executive Officer of SSTL, said in a statement. Original post at ET Telecom