BackSpice Mobility’s Q3 loss at Rs222.5 crore
Consolidated net sales of the firm rose marginally to `569.96 compared with `567.04 crore from a year ago
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New Delhi: Domestic handset player Spice Mobility Ltd on Wednesday reported a consolidated net loss of ₹ 222.5 crore for the quarter ended 31 December 2014.
The firm had posted a net profit of ₹ 1.08 crore in the year-ago period. Consolidated net sales of the firm rose marginally to ₹ 569.96 crore in October-December of this fiscal from ₹ 567.04 crore in the same quarter of 2013-14 fiscal, it said in a BSE filing.
Last month, the company announced it will set up a manufacturing unit in Uttar Pradesh with an investment of about ₹ 500 crore to make affordable mobile phones in the country. Spice has inked a memorandum of understanding with the UP government wherein it will get state support in establishing the facility in a time bound manner.
It will also facilitate the necessary infrastructure, ecosystem and incentives under various schemes announced by the state and Centre. The unit will have a capacity of about 1-2 million handsets a month, which will be gradually expanded to five million.
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