Idea Reports Rs 66,105 Million Profit

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Idea posted a revenue growth of 17.8% at Rs.66,105 million in its Q3 FY13 ended December 31st, 2013 against Rs.56,135 million of the corresponding year.

Standalone revenue of the carrier grew by 17.8% from Rs.56,135 million (Q3FY13) to Rs.66,105 million (Q3FY14) on back of 9.4% annual growth in Total Minutes of Use and 107.6% in data volume, Idea said in a release.

Higher revenue from Voice and Data helped Idea more than double its ‘Profit After Tax’ (PAT) from Rs. 1,911 million in Q3FY13 to Rs. 3,981 million in Q3FY14. The Cash Profit for the company remained healthy at Rs. 15,663 million a growth of 41.3 % over Q3FY13, helping reduce Net Debt by Rs. 27,364 million during 2013 to Rs. 89,458 million.

The Value Added Services (VAS) contribution increased to 16.1% of Service Revenue (14.6% in Q3FY13), despite steep decline in Non Data VAS service contribution from 8.9% (Q3FY13) to 6.6% in Q3FY14.

The higher Mobile Data adoption has primarily led to VAS growth with Data revenue as % of Service Revenue improving by 3.8% to 9.5% in last one year.

The third largest wireless operator in India by revenue also reported 18.5 % profit on YoY basis including 16% contribution from Indus at consolidation level and improvement of 4.7% EBITDA in Q3FY14.

The Consolidated Profit After Tax (PAT) of Idea grew by 104.6% at Rs. 4,677 million, including Rs. 696 million Indus contribution against Q3FY13 PAT at Rs.2,286 million.

Full Quarterly Report–Third Quarter Ended December 31,2013

Wahengbam Rorrkychand

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