Sistema-Shyam TeleServices Ltd (SSTL), which operates under the MTS brand, on Tuesday said its net loss widened by 63 per cent to Rs 666.4 crore for the first quarter ended March 31, 2011, even though its revenues grew three-fold.
The decrease in margin is on account of increase in operational costs due to further scaling up of operations across all circles. Additionally, the circles of UP East, West and Gujarat, were launched in the latter part of 2010, hence the impact of their launch was felt in the first quarter of this year,” the company said in a statement. Revenues of the company grew by three-folds to Rs 236.2 crore during January-March quarter of FY’11, as against Rs 78.6 crore in the same period last year.
The decrease in margin is on account of increase in operational costs due to further scaling up of operations across all circles. Additionally, the circles of UP East, West and Gujarat, were launched in the latter part of 2010, hence the impact of their launch was felt in the first quarter of this year,” the company said in a statement. Revenues of the company grew by three-folds to Rs 236.2 crore during January-March quarter of FY’11, as against Rs 78.6 crore in the same period last year.
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