Videocon telecom crosses Rs 1,000 cr in revenue, targets Rs 2,500 cr next fiscal

Videocon Telecom, the cellular company of the Videocon Group, on Thursday said it has posted Rs 1,049-crore revenue for the financial year ended March 31, 2014, and targets to cross Rs 2,500 crore the next fiscal year.

The company said its revenue came from four operational circles and its fixed-line business in Punjab, national and international long distance services. "Since our comeback in the telecom domain early last year, we have taken a whole lot of initiatives to sustain and grow in this over competitive market and today Videocon Telecom is synonymous with best-in-industry products and services which has attracted a huge consumer base to the brand," Arvind Bali, Director and Chief Executive Officer of Videocon Telecom, said in a statement.

Videocon had lost 21 licences as part of the 122 operating permits that was quashed by the Supreme Court in 2012, due to irregularities in licence allocation. The company, however, re-acquired licences in six circles in November 2012 through auction for Rs 2,221.44 crore.