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Idea Cellular to foray into five new circles by year-end

03 Feb 2009

Targeting a pan-India presence, Idea Cellular will roll-out operations in five service areas by the end of 2009. Spectrum has been alloted for five service areas including West Bengal, Kolkata, Assam, North East and Jammu & Kashmir. The company is also planning to launch its Orissa and Tamil Nadu (including Chennai) services by the first and second quarter of the 2009-10 fiscal.

Idea's quarterly revenue has jumped 60 per cent in the reviewed quarter to Rs 2,728.6 crore as against the year-ago period, supported by the growing subscriber base. The company ranks second after Airtel, with 19.8 per cent market share in combined subscribers base of eight established service areas reflecting its brand strength. Further, Spice results since October 16, 2008 have been consolidated at 41.09 per cent as a joint venture with the firm.

The company reported a fall in net profit to Rs 219.5 crore in the third quarter this fiscal as against Rs 236 crore in the same period last year. Its net profit took a hit to the tune of Rs 36.7 crore from the company's share in losses of Spice and Indus towers.crackcrack
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323