Ericsson’s India sales up by 35 percent to Rs 1,489 crore in Q2

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Global telecom gear maker Ericsson registered sales growth of about 35 percent in India at Rs 1,489 crore (Swedish Krona 1.6 billion) in the second quarter ended June 30, 2014.

“Sales (in India) grew YoY (year-on-year) as operators increased mobile broadband infrastructure spending in response to rising data volumes. Increased sales related to OSS (Operations Support Systems) and BSS (Business Support Systems) also contributed to growth,” Ericsson said in its financial report. Ericsson sales in India was Rs 1,105 crore (SEK 1.3 billion) in the same quarter a year ago. Sales growth of company in terms of SEK was about 23 per cent but it was high when measured in Indian currency terms due to variation in average exchange rate which was 9.31 in June 2014 and 8.5 a year ago.

The telecom gear reported highest six months (January- June) sales growth of 29 per cent in India on YoY basis, followed by the Middle East. The company registered highest quarter on quarter growth in North East Asia region, followed by North America. Ericsson global sales declined by a per cent to about Rs 51,019 crore (SEK 54.8 billion) in the reported quarter from Rs 47,005 crore (SEK 55.3 billion) in the same period a year ago.

In India companies have seen improvement in investment climate. ” the investment climate in India is improving following the concluded spectrum auctions and government elections held in May,” the report said.