Idea announces unaudited consolidated results for Q1 ended 30 June 2007
24th July, 2007
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Idea Cellular Limited (Idea) today announced its unaudited results (limited review) for the first quarter ended 30 June 2007.
Idea ended the quarter with a subscriber base of 16.13 million, adding 2.12 million subscribers during the quarter. The company is awaiting allocation of spectrum to launch operations in the Mumbai and Bihar service areas. In its current 11 service areas of operation, Idea consolidated its subscriber market share from 14.9 per cent at the end of March 2007, to 15.4 per cent at the end of June 2007.
The consolidated revenues for the quarter ended 30 June 2007 of Rs.14,776 million grew by 64 per cent, and EBITDA of Rs. 5,131 million grew by 69 per cent, on a year-on-year basis. The net profit for the quarter ended 30 June 2007 was Rs. 3,085 million, a growth of 259 per cent over the same quarter last year.
The consolidated revenues, EBITDA and PAT grew by 12 per cent, 15 per cent and 60 per cent respectively when compared to the previous quarter ended March 2007.
In its meeting of the Board of Directors held today, the Board approved the formation of a wholly-owned subsidiary for possible transfer of passive infrastructure.
Note: Figures of past periods have been regrouped. Finance and treasury charges represent interest and financing cost net of investment income and forex gains/losses. Investment income and forex gains for the quarter ended June 2007 were Rs. 788 million, versus Rs. 10 million for the same period last year, and Rs. 208 million for the quarter ended March 2007.
About Idea Cellular Ltd.
A leading GSM mobile services operator, Idea Cellular has licenses to operate in 13 service areas in India. With a customer base of over 16 million, Idea Cellular runs operations in Delhi, Himachal Pradesh, Rajasthan, Haryana, Uttar Pradesh (East), Uttar Pradesh (West) and Uttaranchal, Madhya Pradesh and Chattisgarh, Gujarat, Maharashtra and Goa, Andhra Pradesh and Kerala. With the planned expansion into Mumbai, Bihar and Jharkhand, Idea's footprint will cover nearly 70 per cent of India's telephony potential. Idea is listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India.
Idea Cellular is a part of the US$ 24 billion Aditya Birla Group, India's first truly multinational corporation. The Group has a market cap in excess of US$ 24 billion, operates in over 20 countries, and is anchored by 100,000 employees belonging to 25 nationalities.