Loop Telecom gross revenue up 0.4% to Rs 178.04 crore in Q3

Telecom Lead India: Loop Telecom, which lost its 21
licenses in the February Supreme Court verdict, has posted gross revenue of Rs
178.04 crore for the quarter ended 31, December 2011, up 0.4 percent against Rs
177.33 crore for the quarter ended 30, September 2011.

 

For the quarter ended 31 December 2010, Loop’s gross
revenue stood at Rs 179.81 crore.

 

During the quarter ended 31, December 2011, Loop’s
subscriber base recorded at 3.24 million with 0.35 percent market share, which
includes around 32,50,000 subscribers in its Mumbai operations.

 

Barring Mumbai, Loop Telecom has a subscriber base of
6,000 subscribers, which translates into a very small 0.00066 percent share of
the Indian telecom market, according to data from TRAI.

 

Loop Telecom offers GSM services across 13 of the
company’s telecom circles. Recently the company announced that it would be
opting out of the market soon and hence they would have to move to another
operator.

 

Loop Telecom issued notices to 6,000+ of its
subscribers across 13 of their telecom circles, namely – Assam, Bihar, Gujarat,
Haryana, Karnataka, Kolkata, Madhya Pradesh, Maharashtra, North East, Orissa,
Punjab, Rajasthan and Uttar Pradesh (West).

 

However, the development would not have any impact on
Loop Mobile, which operates in the Mumbai circle.

 

Loop Mobile was earlier BPL Mobile before Essar group
acquired the company from BPL and renamed it as Loop. Loop Telecom and Loop
Mobile are both owned by Essar Teleholdings.

 

Loop Telecom had also sought a 38 billion rupee ($740.81
million) refund from the government.

 

Recently Telecom Regulatory Authority of India (TRAI)
sent a recommendation on exit policy, stating that there was no need for
separate exit policy for all types of licenses and the entry fee paid by the
licensees will continue to be non-refundable as per their license terms and
conditions.

 

As per these recommendations by the regulator, the amount
paid by telecom players like Loop and others stands forfeited and will not be
returned in any case.

 

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