Idea Cellular's Q1 profit zooms to 3.08 bn

Tuesday, 24 July 2007, 07:00 Hrs
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New Delhi:Idea Cellular Ltd, one of India's leading private mobile service operators, registered net profit of 3.08 billion in the first quarter of the current fiscal (2007-08) against last year's 1.93 billion in the same period, the company announced Tuesday.

Idea Cellular, which is a part of the $24 billion Aditya Birla Group, posted revenues of 14.77 billion, which grew by 64 percent, compared to the first quarter of 2006-07 when its revenue was 13.19 billion.

By the end of the quarter, the mobile firm had a subscriber base of 16.13 million by adding 2.12 million new customers during the period.

In its existing network with 11 service areas of operation, Idea consolidated its subscriber market share to 15.4 percent by the end of June.

"The company is awaiting allocation of spectrum to launch operations in the Mumbai and Bihar service areas," said a statement.

Idea Cellular, which is a GSM technology mobile service provider, currently operates in 13 areas - Delhi, Himachal Pradesh, Rajasthan, Haryana, Uttar Pradesh (East), Uttar Pradesh (West) and Uttarakhand, Madhya Pradesh and Chhattisgarh, Gujarat, Maharashtra and Goa, Andhra Pradesh and Kerala.
Source: IANS
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