Mauritius’ Bharat Telecom sees pre-tax losses swell by 94.8% in 2014
Revenue from operations during the year increased to Rs 19.61 million from Rs 2.15 million in the previous year, despite the competitive environment. (Image: Bharat Telecom)
Mauritius ICT major Bharat Telecom Ltd witnessed its pre-tax losses widen by 94.8% to Rs 78.31 million for the financial year ended 31 March 2014.
It may be noted that the company is involved in information, communication, technology and computer related activities, with focus on providing FTTH (Fibre to the home) services in the telecommunications domain.
Accordingly, during the quarter from January to March 2014, the company has initiated the construction of all the remaining Optical Line Transmission Equipment (OLTE) for fibre optic networks at Sottise, FUEL and Union Vale after having received all relevant approvals.
The distribution works are nearly over in the South while services are expected to commence in Plaine Magnien, Rose Belle, Mahebourg and the airport region from next quarter onwards.
Besides, distribution works will also have started in the North and East regions by next quarter, to ﬁnish off by the close of the year.
Revenue from operations during the year increased to Rs 19.61 million from Rs 2.15 million in the previous year, despite the competitive environment.
Operating expenses increased to Rs 97.92 million from Rs 42.35 million, primarily on the back of depreciation and amortization costs of Rs 50.21 million as compared to Rs 21.26 million a year ago.
Consequently, the company’s net loss increased to Rs 78.31 million as compared to Rs 40.193 million last year.
The company’s focus on infrastructure development has already gathered momentum during the year, stated the full-year financial statements.
“The competitive environment in which our business operates will remain difﬁcult and is likely to prove challenging mainly for acquisition of new customers,” noted the management.
However, management expressed confidence that by providing a differentiated quality of service, the company should witness an improvement in its overall operating performance for the upcoming year.
Bharat Telecom Ltd
Bharat Telecom Ltd (BTL) is a public limited company incorporated in Mauritius in August 2010 and listed on the Development & Enterprise Market (DEM) of the Stock Exchange of Mauritius since July 2012.
BTL is first industry-player to provide FTTH (Fibre to the Home) service to households in Mauritius. Amongst other services, IPTV and High Speed Broadband Internet will be introduced on this platform by the company.
BTL has the vision to connect every home and office in Mauritius with a fibre network.
Source: Company Website