Credit rating agency, CARE has reaffirmed ‘AA’ rating to Rs 16307.52 crore long term bank facilities of Idea Cellular. The rating agency has also reaffirmed ‘A1+’ rating to Rs 3394.00 crore short term bank facilities of the company.
The ratings continue to derive strength from the strong parentage of the company, by virtue of its belonging to the Aditya Birla Group, the company’s experienced management, its emergence as a major pan- India telecom operator, competitive edge derived by the company from the award of 3G spectrum in 11 telecom circles, strong brand recognition and favourable growth potential for mobile telephony in India backed by relatively low tele-density.
Idea Cellular’s net profit after tax for the fourth quarter declined by 2.50% at Rs 255.92 crore as compared to Rs 262.49 crore for the corresponding quarter previous year. Its total income has increased by 28.32% at Rs 4201.40 crore for the quarter under review from Rs 3274.21 crore in the same quarter last year.
Company Name | CMP |
---|---|
Bharti Airtel | 1274.75 |
Vodafone Idea | 12.67 |
Indus Towers | 329.35 |
Tata Communications | 1719.90 |
Bharti Hexacom Ltd. | 866.00 |
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