The Chief Operation Officer of Bharat Telecom explains why the firm has incurred more losses this year as compared to 2014.
Bharat Telecom has incurred losses amounting to Rs 84 574 613 this year – this is higher compared to those of last year when the company made losses of Rs 78 312 193 only. The new figures were revealed in the audited financial statements of the year that ended on the 31st of March 2015.
The increased losses of this year are said to be the result of the change in government and other economic factors. According to the Chief Operation Officer of Bharat Telecom, Kaylash Ramtohul, one of the factors was the depreciation of the rupee, and the aggressive competition in the sector. However, he affirmed that the situation is not alarming and that they are still “on track”.
Bharat Telecom was set up in Mauritius back in 2012. It now has 4,000 subscribers in the country, and hundreds more of corporate ones. Its next phase of development will entail covering the south of the island as from August. Kaylash Ramtohul hopes that this will make up for the losses.