Onmobile plans Rs 600 cr IPO

Bangalore-based VAS provider OnMobile is planning to enter the capital market this financial year with an IPO of Rs 500-600 crore! Onmobile is a network-level VAS provider and powers voice portals of most Indian operators. The company is gearing up to become an end-to-end VAS solution provider, intending to invest the IPO proceeds for its [...]

Idea Cellular: Hold

Hindu Business Line’s stock analyst K. Venkatasubramanian puts a “Hold” call on the Idea Cellular stock. Some interesting tidbits for the rest of us non-investors. In the 11 circles it operates in, eight are profitable, while in three where it started operations recently

Q2 results – Reliance, Subex, Sasken

Reliance Communications reported a net profit of Rs 702 crore for the second quarter of FY 2006-07, as against a loss of Rs 19 crore in the year-ago period. The company saw 40% revenue growth at Rs 3,526 crore. The EBITDA, at Rs 1,353 crore, marks a growth of 216% over the corresponding quarter last [...]

Q2 results – Bharti, Tech Mahindra, MTNL

Bharti Airtel Q2 net profit rose 23.7% at Rs 934 crore in the second quarter versus Rs 755 crore in the previous quarter. Its revenues were up 13% at Rs 4,357 crore from Rs 3,856.3 crore QoQ. The EBITDA stood at Rs 1,702 crore. The consolidated total revenues grew by 61%, EBITDA grew by 67% [...]

Idea plans IPO in early 2007

Idea Cellular, the fourth largest GSM operator in the country, is planning an initial public offer for raising about Rs 1,400 crore – Rs 1,800 crore . Birlas are open to divesting around 25% and may also place 8-10% with a private investor before the IPO. It also plans to cut Aditya Birla Group’s stake [...]

MTNL sees steep fall in operating profits

ET reports that MTNL’s operating profit for the year ’05-06 (Rs 166 crore) has become a fifth of the operating profit in ’04-05 (Rs 760 crore). The PSU had registered a net profit of Rs 580 crore for FY05-06, as compared with Rs 938 crore in the previous fiscal. The profits of MTNL are being [...]

Sasken on a global growth path

Bangalore-based Sasken Communication Technologies is all set to announce an acquisition in the next 45 days. President and COO Srikanth Kannankote, declined details but said that the company needs to establish a base in North America. The acquisition is likely to be in the area of handset technology or infrastructure services. Sasken has charted an [...]

Tech Mahindra IPO oversubscribed

Whether its through Private equity or Primary market, money is pouring into the telecom industry. The IPO of Tech Mahindra (formerly Mahindra British Telecom), a provider of IT solutions to telecom companies, was oversubscribed 72 times when it closed on August 4. Tech Mahindra is one of the top 10 software exports companies in India. [...]

Bharti quarterly profit soars

Bharti Airtel Ltd., beat quarterly profit forecasts as its first-quarter net profit rose 48% to Rs 755 crore. Total revenue increased 53% to Rs 3856 crore in the first quarter. It has posted an EBITDA of Rs 1502 crore, a YoY increase of 60%. It had the highest ever net additions of 36.51 lakh customers [...]

India-China contribute to Motorola and Nokia growth

Announcing its second quarter results yesterday, Motorola posted all time high mobile device sales this quarter, including record operating earnings from devices. The company’s sales increased 46% to $7,140 million while its operating earnings rose 62 per cent to $799 million. Motorola has retained its second position in India and world wide, while expanding its [...]

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