Shyam Telecom Q2 net loss at Rs 2.57 crore

Shyam Telecom, a global supplier of carrier equipment has registered second quarter net loss of Rs 2.57 crore, from a profit of Rs 1.26 crore in the corresponding quarter last fiscal.

The Q2 revenue was Rs 62.23 crore, down 62 percent vis-a-vis Rs 162.79 crore in the corresponding quarter last fiscal. In terms of revenue break-up telecom product & services contributed Rs 7.25 crore, trading contributed Rs 54.94 crore and investment Rs 0.048 crore.

Trading was down by 64.4 percent w.r.t. corresponding quarter last fiscal whereas telecom product & services was down by 16.7 percent w.r.t. corresponding quarter last fiscal.

The trading business includes procurement of carrier and device equipment for Sistema Shyam TeleServices (SSTL), a venture involving equity participation by Sistema JSFC of Russia, the Russian Federation and the Shyam Group of India.

Speaking to TeleAnalysis, Dharmender Dhingra, vice president (legal) & company secretary, Shyam Telecom said, “The reason for this huge loss is due to the dollar loan taken by the company for its working.”

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