Idea consolidated net profit rises 259%

CORPORATE SCORECARD

The Aditya Birla group-promoted Iadea Cellular has posted a net profit of Rs 308.52 crore on a consolidated basis in the first quarter ended June 30, 2007, an increase of 259.03 per cent, compared with Rs 85.93 crore recorded during the same period in the previous financial year.

The GSM service provider's total revenue rose to Rs 1,477.64 crore during the quarter under review, up by 63.77 per cent, from Rs 902.26 crore recorded during the same quarter of the previous year.

On a standalone basis, the company has posted a net profit of Rs 193.31 crore during the reporting quarter against Rs 30.07 crore recorded during the same period of 2006. In the first quarter, the company's total revenue rose to Rs 908.83 crore from Rs 597.47 crore recorded during the same period a year ago.

Idea Cellular's investment income and forex gains for the reporting quarter stood at Rs 78.8 crore against Rs 1 crore recorded during the same period last year.

The company has received the director's approval to hive off its passive infrastructure into a separate company.

The company added 21.2 lakh subscribers during the three-month period, taking its total subscriber base to 1.61 crore. At present, the company has operations in 11 circles with a 15.4 per cent market share.