Sistema Shyam TeleServices Ltd (SSTL) has said that it has recorded a rise of 72 per cent in revenues during the fourth quarter till March 2012.

The company also said that its net loss has fallen to Rs 527.8 crore duing the quarter. The company, which offers CDMA services under MTS brand, had recorded a net loss of Rs 666.4 crore during the same quarter of the previous year. It had reported Rs 1,197.7 crore loss in the October-December quarter.

SSTL President and CEO Vsevolod Rozanov said, "Inspite of numerous legal and regulatory challenges being faced by the entire telecom industry, SSTL has delivered strong results. The company continued to stay true to its focus on driving operational efficiencies across all areas of its business."

The Supreme Court of India has scrapped the validity of all 122 spectrum licenses in February that were granted to telecom firms during the former communications minister A Raja's time in office. The court cancelled all the licenses on the ground they were issued in a "totally arbitrary and unconstitutional" manner. It also imposed a fine on three telecom companies that offloaded their shares after getting the licenses.

SSTL's 21 licences are among the licenses by the Supreme Court in the 2G spectrum case. The companies, who licenses has been cancelled, has the permission to operate till August.