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Idea Cell.: Spectacular quarter

Oct 23, 2012

Idea Cellular declared the results for the second quarter of the financial year 2012-2013 (2QFY13). The company has reported a 15% YoY increase in total revenues and a whopping 127% YoY growth in net profits during the quarter. Here is our analysis of the results.

Performance summary
  • Consolidated sales grew by 15% YoY during 2QFY13. The growth was led by a growth in the subscriber base as well as by higher minutes on the network during the quarter. For the six months ended September 2012 (1HFY13), net sales grew by 18.3% YoY.
  • Mobile subscriber base grew by 15.3% YoY during the quarter. Total count of subscribers stood at around 115.5 m at the end of September 2012.
  • Operating margins improved to 26.8% from 25.7% seen during the same period last year. This was on account of lower network operating expenses as well as lower license costs during the quarter (as percentage of sales). For 1HFY13, operating margins grew marginally to 26.4% from 26.2% during the same period last year.
  • Net profit increased by 127% YoY during the quarter. Net profit margins improved to 4.5% as compared to 2.3% during the same period last year. The increase was led by better operating margins as well as lower interest costs during the quarter. For 1HFY13, net profits increased by 67.5% YoY.

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