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Idea Cellular posts Rs. 274.5-cr net profit in Q4

idea-cellular

Aditya Birla group telecom company Idea Cellular on Tuesday reported consolidated net profit of Rs. 274.52 crore for the quarter ended on March 31, 2011 in its unaudited results.

The company had reported a net profit of Rs. 266.61 crore in the fourth quarter of 2009-10. Idea Cellular said figures of the current period are not comparable with that of the corresponding period due to the merger of Spice Communications effective from March 1, 2010, prior to which it was a joint venture.

The unaudited total revenue of the company for reported quarter stood at Rs. 4,234.72 crore. Idea Cellular for the same quarter in FY10 reported total revenue of Rs. 3,347.8 crore.

For the year ended March 31, 2011, Idea Cellular unaudited consolidated net profit stood at Rs. 898.71 crore. The company for the same quarter in previous financial year posted net profit (audited) of Rs. 953.94 crore.

The company reported total revenue of Rs. 15,503.22 crore for FY 2010-11. As per audited financial results, Idea Cellular had consolidated total revenue of Rs. 12,447.08 crore in FY10.

Idea Cellular in its statement to Bombay Stock Exchange said the company is in the process to launch 3G services in Jammu and Kashmir.

The company in the statement mentioned about its legal battle with Department of Telecommunications on spectrum allocation and merger of Spice Communications with it. DoT has served Idea Cellular showcause notices for termination of six unified access services licence (UASL), which were issued to the company in 2008.

Idea Cellular had been served two demand notices of Rs. 50 crore each by DoT for its telecom licence in Punjab and Karnataka service area, which were held by Spice Communications.

DoT has issued similar demand note to the company for Delhi, Maharashtra, Haryana and Andhra Pradesh service area.

Licenses for these service areas are with Idea Cellular. On June 1, 2011, the company was served showcause notice for termination of licence for violation of conditions of not meeting roll out obligation in Delhi, Maharashtra, Haryana and Andhra Pradesh.

On May 11, the company was issued license termination notice due to non-fulfilment of roll out obligations for Karnataka and Andhra Pradesh service area.

Simultaneously, DoT asked Idea Cellular to pay Rs. 27.65 crore for failing to meet roll out obligation in Punjab and Karnataka and to Spice Communications for missing roll out obligation in Maharashtra, Haryana and Andhra Pradesh. The company has challenged penalty demand raised by DoT  at TDSAT.

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