Recovery under way as Idea books 66.0% growth in net profits

2 Aug 2013

Idea Cellular has booked an 18.0% annual increase in revenues for the three months to end-June 2013 as the cellco’s core business continued to recover from a period of contraction sparked by uncertainty in India’s wireless sector. The cellco booked total revenues of INR65.36 billion (USD1.07 billion) in the period under review, compared to INR55.38 billion a year earlier, whilst EBITDA improved from INR12.89 billion to INR18.44 billion. Net profits for the quarter stood at INR17.44 billion, having increased from INR10.5 billion a year earlier.

Idea claimed 125.0 million wireless subscribers at the end of June 2013, after the cellco’s subscriber base dropped from 117.2 million in June 2012 to 113.9 million at the end of December. 3G subscriptions did not see such a slump, and have grown steadily over the preceding twelve months to reach 5.5 million from 3.1 million. Blended ARPU increased by nearly INR20 over the year, to INR174 from INR156 a year earlier, bolstered by an 5.0% increase in average minutes of use (MoU) to 398 minutes. In the data segment, Idea claimed a total of 30.91 million (up 68.9% year-on-year) 2G and 3G data customers, accounting for total data traffic of 13.79 billion MB (92.2%), of which 6.33 billion (95.9%) was attributed to the cellco’s 5.5 million 3G subscribers.

India, Vodafone Idea (previously Idea Cellular)