NEW DELHI: Uninor, the Indian arm of Norway-basedTelenor, on Wednesday said it had dramatically narrowed its losses to Rs 436.8 crore (444 million NOK) in the quarter ended December 31, 2012 from Rs 4,896.4 crore (4,978 million NOK) in the year-ago period before. 

The company's revenues for the quarter dipped by 13.4 per cent to Rs 795.2 crore (810 million NOK) from Rs 918.9 crore (936 million NOK). 

"Uninor has set a clear financial goal for its operations— to reach cash flow breakeven in each of its circles within this year. We are satisfied to see that the results for the fourth quarter and for the year 2012 show that we are moving in the right direction. Our focus will remain on offering basic services on a pre-paid platform at the cheapest prices to mobile users in our circles," the company said in a statement. 

Last February, the Supreme Court had cancelled all of Uninor's mobile permits and mandated participation in an auction to buy spectrum at market-determined prices, in order to continue operations. In the November auctions, Uninor spent Rs 4,018 crore in buying spectrum in six circles of UP east, UP west, Bihar, Andhra Pradesh, Gujarat and Maharashtra while folding up operations in Kolkata and West Bengal.