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Idea Q4 net profit up 25% at Rs 274.26 cr

Published on Thu, Apr 23, 2009 at 15:55 | Source : CNBC-TV18

Updated at Sat, Apr 25, 2009 at 10:07

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Idea Cellular has announced its fourth quarter results. The company's Q4 net profit went up by 24.95% to Rs 274.26 crore from Rs 219.5 crore, QoQ. (CNBC-TV18 estimated at Rs 222.9 crore)

Its revenues were up by 7.48% to Rs 2935.6 crore from Rs 2731.1 crore, QoQ. (CNBC-TV18 estimated at Rs 3091.6 crore)

Its consolidated EBIDTA (earnings before interest, depreciation, tax and amortization) stood at 27.73% versus 25.54%.

Results Analysis

* Revenues slightly lower than expected; ARPU down 4.5% to Rs 254(inline with expectations); MOU down 3.36% to 402 (better than expected)
* Net profit way ahead of expectations due to better EBIDTA, lower interest expense, higher interest income & lower taxes
* Losses in new circles (Mumbai & Bihar) down; EBIDTA loss down from Rs 76.5 crore to Rs 65.4 crore
* Contribution of Spice & Indus tower to EBIDTA is higher
* Incurred losses of Rs 200 crore on Mumbai, Bihar launch
* March quarter had 2 days less than Q3

IDEA says
* Mumbai & Bihar expected to turnaround earlier than expected
* Increased subscriber market share by 0.9% in FY09
* Targeting higher revenue market share; existing share at 10%
* Ready for 3G auction whenever it happens
* Repaid short term loans in January; interest costs down
* Still scope to grow; coverage & penetration low in many circles

EBIDTA
* Q4FY09: 27.6%
* Q3FY09: 25.54%
* Q2FY09: 26.33%
* Q1FY09: 33.14%

ARPU
* Q4FY09: 254
* Q3FY09: 266
* Q2FY09: 261
* Q1FY09: 278

MOU
* Q4FY09: 402
* Q3FY09: 416
* Q2FY09: 417
* Q1FY09: 428
* Q4FY08: 411

RPM
* Q4FY09: 0.63
* Q3FY09: 0.64
* Q2FY09: 0.62
* Q1FY09: 0.65

Particulars	Mar-09	Dec-08	Sep-08	Jun-08
Net Sales / Interest Earned / Operating Income	2832.46	2605.9	2300.3	2173.18
Other Income	-	0.55	0.3	4.61
Total Income	2832.46	2606.45	2300.6	2177.79
Expenditure	-2069.05	-1891.05	-1689.11	-1451.59
Interest	-80.73	-68.74	-148.39	-152.86
Profit Before Depreciation and Tax	682.68	646.66	463.1	573.34
Depreciation	-376.1	-344.95	-299.92	-272.37
Profit before Tax	306.58	301.71	163.18	300.97
Tax	-2.3	-17.7	-12.79	-31.44
Net Profit	304.28	284.01	150.39	269.53
Equity Capital	3100.1	3100.1	3100.1	2635.36