Technology

WWIL Q2 net loss widens to Rs 147.3 mn

MUMBAI: Wire and Wireless (India) Limited (WWIL) has posted a net loss of Rs 147.3 million for the third quarter of the fiscal ended 31 December 2011. The net loss has widened, compared to Rs 103.9 million the company had posted in the corresponding quarter of the previous fiscal.


Meanwhile, WWIL has managed to show profit at the operational level. Earnings Before Interest, Tax, Depreciation and Amortization (Ebitda) stood at Rs 46 million, up 5.2 per cent compared to Rs 43.7 million a year ago.


WWIL chairman Subhash Chandra said, “With WWIL showing consistently improved operational performance quarter-on-quarter, and with all its infrastructure and systems in place, the company is set to benefit immensely from digitisation.”


WWIL’s operating revenue for the quarter stood at Rs 871.7 million as compared to Rs 744.4 million during the corresponding quarter last fiscal, indicating a 17.1 per cent growth.


The company said that operating revenue is primarily generated from subscriber related income, income from bandwidth charges, income from advertisements and other operating revenues.


Total consolidated operating expenses stood at Rs 911.2 million, up 28.3 per cent as against to Rs 710.2 million during the corresponding quarter last fiscal. Major cost item was cost of goods and services recorded as Rs 639.2 million during the quarter, representing 66.8 per cent of the total revenue in comparison to Rs 518.3 million in the corresponding quarter of the last fiscal, a 68.8 per cent share of the total revenue.


WWIL COO Anil Malhotra said, “Amid stressed economic environment, WWIL maintained its momentum in the third quarter. Our consolidated revenue and Ebitda grew to Rs 957.1 million and Rs 46 million respectively, a healthy growth of 26.9 per cent and 5.2 per cent over corresponding quarter of last fiscal. We will continue to work towards making the existing business self-sustainable as well as expand our footprint to new strategically important geographies.”

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