Idea growth remains steady

Indian cellco Idea cellular has booked revenues of INR56.135 billion (USD1.04 billion) for the three months to end 31 December 2012, an increase of 10.8% year-on-year and 5.0% quarter-on-quarter. Earnings before interest, tax, depreciation and amortisation (EBITDA) were INR13.17 billion with an EBITDA margin of 23.5%, up from INR11.99 billion and 23.7% twelve months earlier. Revenue growth offset increases in operating expenses, which rose by 11.1% to INR42.96 billion, resulting in a 17.3% growth in cash profit on an annualised basis. The cellco’s subscriber base shrank slightly to 113.9 million from 115.5 million in the three months to 30 September 2012, whilst 3G subscriptions continued to grow, reaching 4.1 million.