Videocon Telecom has reported a 42% improvement in its operating loss in its GSM business to Rs 25.9 crore in the third quarter of 2015-16 as against Rs 44.4 crore in the same period last year. It will soon offer 4G services in its circles through spectrum sharing option in order to accelerate its business growth.
The company reported a consolidated topline telecom revenue (including its GSM, Carrier business and Wireline business) of Rs 585 crore in Q3 2015-16, a 22% growth over the same quarter last year. The GSM operations of the telco (excluding Gujarat telecom circle where Videocon Telecom has signed deal for its spectrum), reported a 20% growth in its net revenue in the third quarter of FY 2015-16 as compared to the year-ago period.
The growth was mainly driven by a 28% increase in subscriber base, and 16.5% improvement in its NRPM (Net rate per min) and 76% growth in data revenue in the third quarter of this financial year over the same quarter last year. During the calendar year, the company added 5.14 lakh net subscribers in its Punjab telecom circle, in Haryana circle, it added 3.04 lakh subscribers, while in MPCG circle Videocon Telecom added 9.06 lakh subscribers. The telco is targeting EBITDA positive in its Haryana circle by the end of this financial year.
Arvind Bali, Director and CEO, Videocon Telecom, said, “We are happy with our Q3 results, our overall Top line Revenue is up by 22% and our GSM Net Revenue is up by 20% over same quarter last year. Our operating losses have gone down by 42%. All KPIs, be it gross level or unit level, look promising.”
“We will be making further investments in the business and will soon offer 4G services in our circles by exercising spectrum sharing option and further accelerate business growth,” Bali added.