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Uninor Q1-11 Results: Revenues At NOK 548M; 2G Scam Worries

Uninor informed investors that it is gaining market share in India. With a net subscriber growth of 5.2 million during the quarter ended 31st March 2011, the operator has 17.4 million subscribers in the Indian market. The company's operational focus is on distribution and cost efficiency. However, the 2G spectrum scam still worries the company and it feels that clarity on licence and regulatory issues was required. In its quarterly report Telenor also informs investors about Unitech MD Sanjay Chandra and Unitech Wireless, being named in the CBI charge sheet. Last quarter, it had said that it was focusing on positioning itself as an ultra low cost operator in India, in a market rife with multi-SIM usage. Uninor holds UAS licence to offer mobile services in the 22 telecom circles in India. It has rolled out in 21 circles and is commercially present in 13 circles. Uninor reported revenues of NOK 548 million (approximately Rs. 446 crore) for the quarter ended March 31st 2011, a QoQ increase of 37%. It registered an EBITDA loss of NOK 1019 million(Rs 830.8 crore) slightly lower than previous quarter, and an operating loss of NOK 1246 million (Rs. 1015 crore). It registered an accumulated operating cash flow loss of Rs 89 billion in Q1 2011, in India. Details: Report | Spreadsheet | Presentation Uninor had begun offering services in December 2009. Telenor owns 67.25% in Uninor, while the Unitech Group owns 32.75%. ARPU & CAPEX Uninor has added 5.2  million subscriptions,  compared to 4.3 million in the…

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