SSTL to take call on 2G auction in Oct

Sistema Shyam Teleservices (SSTL),which operates under MTS brand,will take a decision on participating in the auctions closer to the deadline. According to the plan,the last date for submission of applications for auctions is October 19,2012

Written by ENS Economic Bureau | New Delhi | Published:September 11, 2012 1:33 am

Sistema Shyam Teleservices (SSTL),which operates under MTS brand,will take a decision on participating in the auctions closer to the deadline. According to the plan,the last date for submission of applications for auctions is October 19,2012.

“Our decision on participation at the auctions will depend on the clarity we get from the Indian government. The final decision can come closer to the deadline that could be as late as October,” said Vsevolod Rozanov,president and CEO of SSTL.

SSTL wants exemption from the Supreme Court order,which had quashed 122 2G licences granted by former telecom minister A Raja,on the grounds that they were the only company that applied for CDMA airwaves.

Weakening rupee has taken its toll on SSTL that has widened its losses to Rs 1,180 crore for the April-June quarter this year from Rs 657.6 crore for the same period a year ago.

The company reported 50 per cent increase in its revenue during the quarter at Rs 417.7 crore against Rs 278.2 crore in the same period of the previous year.

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