Videocon Telecom narrows down operating loss to Rs 44.75 cr

Videocon Telecom today said it has narrowed down operating loss to Rs 44.75 crore for the first quarter ended June 30.

The company reported an operating loss of Rs 75.9 crore for the same quarter last financial year.

The consolidated topline revenue of the company for the reported period stood at Rs 527.07 crore.

"We have achieved 99 per cent of our targeted gross revenue in quarter 1, and this is despite the increase in service tax incidence and roaming rate implication," Videocon Telecom Director and CEO Arvind Bali said.

Bali added the company is targeting over 10 million new subscriber acquisitions, topline revenue target of Rs 3000 crore and EBITDA positive in MP and Haryana telecom circles in current fiscal.

The company said owing to the strategy to upgrade its network to 2.75 G EDGE, it has been substantially growing the data revenues.

The company has doubled its data revenues in Q1 this year over same quarter last year and they now contribute about 12 per cent of its gross revenue.