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| Idea Cellular lays out capex of Rs 6,000 cr for FY'10 |
| Press Trust of India / Mumbai Apr 24, 2009, 14:33 IST |
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Aditya Birla group company Idea Cellular today said it has earmarked a capital expenditure of Rs 6,000 crore for the current fiscal.
The capex plan includes entering new market and growing its existing markets, Idea Cellular's Managing Director, Sanjeev Aga, told reporters here today.
The company has enough liquidity and does not plan to raise funds for its capex, he said.
The company has cash of Rs 5,000 crore on its balance sheet and about Rs 2,000 crore can be generated through operations, he said.
However, for a 3G roll-out, the company would have to borrow funds, he said.
The company would participate in the 3G auction whenever it takes place, Aga said, adding that by the end of this calendar year, Idea would roll out its services on a pan-Indian basis.
The company has posted a consolidated net profit of Rs 274.3 crore for the fourth quarter of 2008-09. It had posted a consolidated net profit Rs 276.7 crore in the year-ago period.
Its total revenue for the reporting quarter was Rs 2,935.6 crore against Rs 1,985.3 crore a year ago for the same period.
"The quarter has been satisfactory," Aga said.
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