Sistema Shyam Teleservices (SSTL) which offers CDMA-based telecom services in the Indian market under MTS brand name posted its quarter four and yearly financial results as part of Sistema’s financial reporting.

Revenues for SSTL in Q4 09 were at $ 14 million as compared to $ 4.2 million during corresponding quarter last year at a growth of 234.2 %. For the year 2009, the company’s revenues totaled $ 36.4 million from $ 21.9 million posted in 2008 at a yearly rise of 66.4%.

Operating loss for the company was at $ 250.8 million as compared to $ 68.1 million in 2008. For Q4 the operating loss was $ 88.8 million. It is normal for telecom companies to post losses during the initial years of launch as there is a huge expenditure involved for the first few years of launch of services.

In 2009, SSTL’s mobile subscriber base rose to 2.9 million subscribers. ARPU too increases qoq at 6.3% to $ 1.7. The average minutes of usage per subscriber for the company also increased from 279 minutes to 339 minutes on a qoq basis at 21.5 % rise.

Mobile Broadband subscribers of the company reached the 50,000 mark at the end of April 2010.

Fixedline subscriber base of the company however decreased from 245,000 to 177,000 with the company attributing the drop to increased consumer preference for mobile services.