Idea figures

Posted on | September 12, 2005 |

Idea Cellular, the country’s fifth-biggest wireless operator, has posted a net profit of Rs 76 crore in FY05 and revenue of over Rs 2,000 crore. It’s subscriber base has grown to 6 million.

The AV Birla group recently hiked its stake in Idea Cellular to close to 50% by buying a portion of US cellular operator Cingular’s stake.

It was the original investor in the company back in the 1990s, when the AV Birla group teamed up with the US-Based AT&T to operate cellular services. That JV was later merged with the Tata group’s cellular venture to become Birla-AT&T-Tata or Batata.

After a botched attempt to take over the BPL group’s cellular business, Batata changed its name to Idea and began a massive branding exercise to consolidate its services and clock up subscriber numbers.

It took over Escotel last year gaining additional subscribers and entry into newer circles. Mr Aga said the group is keen on retaining its shareholding in Idea…

“We saw that the performance has improved, the company is doing well and that it is in a good position to exploit the growth in the market,

Category: News

Comments

Leave a Reply

Name (required)

Email Address(required)

Website

Comments