Sistema Shyam Teleservices (MTS India) has reported consolidated revenues for the first quarter of 2012. The company crossed the 160 lakh subscriber mark during Q1 2012. SSTL’s data card subscriber base for the quarter increased by 15% to 15.4 Lakh/1.54 million subscribers. It added 2.1 Lakh data card subscribers during the quarter. Non-voice revenues, which include both data and mobile VAS revenues, were up 11.5% quarter on quarter to Rs 142.9 crore, now contributing 35.1% of total revenue, probably the highest among telecom operators. Following the cancellation of its licences in February, the company filed a Curative petition in the Indian Supreme Court on 4th May 2012. The Company said that being a pure play CDMA operator, its legal case was significantly different compared to the other mobile operators. For example, there is no finding or suggestion by the CAG report that CDMA spectrum was equally or anywhere near in demand as GSM back in 2008. The Company is hopeful that the court will look into the merits of SSTL’s Case and consider it accordingly. Sistema JSFC, the majority shareholder in SSTL, had also invoked its right under the Bilateral Investment Treaty (BIT) between India and Russia, after the Decision of the Supreme Court. The company informs that communication exchanges continue between Sistema JSFC and the Republic of India, which is a part of the 6 months conciliatory process as per the provisions of the BIT. The quarter also saw SSTL shareholders approve an increase in the Authorised Capital base to Rs 12,000 Crore by including non convertible and redeemable preference…
