Idea posts 43% rise in profit

Aditya Birla group company Idea Cellular has posted about 43 per cent increase in its profit after tax at Rs 243 crore for the quarter ended December 31, 2010, against Rs 170 crore in the same quarter previous year, on the back of rising subscriber base.

The total revenues rose by 26 per cent at Rs 3955.6 crore for the third quarter ended December 31, last year as compared to Rs 3149.4 crore in the same quarter the previous year, the company said in a filing to Bombay Stock Exchange.

Idea had nearly 82 million subscribers at the end of December last year, which is 56 per cent higher from a year earlier. The company also said it would launch its 3G mobile services in the next few months and it was in discussions with other mobile operators to offer 3G services in the circles, where it did not win the 3G spectrum.

In the 3G auction last year, Idea acquired spectrum in 11 circles. Private players such as Tata Teleservices and Reliance Communications had launched their 3G mobile services last year, another operator Bharti Airtel announced the launch in Karnataka today. Vodafone Essar is also yet to launch its 3G services. State-run telcos BSNL and MTNL are offering 3G services for more than a year now.

Company’s managing director Sanjeev Aga said Indus Towers, a venture between Bharti Airtel, Vodafone Essar and Idea, is expected to come out with an initial public offer (IPO) sometime in the next financial year (2011-12).