Videocon Telecom posts 43% growth in Q1 revenue

Videocon Telecom has posted 43 percent growth in its revenue for GSM business in Q1 FY 2015-16.

For comparison, Uninor today said it achieved 33 percent growth in revenue.

Idea Cellular on Tuesday said its revenue increased by 16.36 percent to Rs 8,798.3 crore from to Rs 7,561 crore in the year-ago period. Its net profit during the first quarter of 2015-16 surged by 27.82 percent to Rs 930.8 crore from Rs728.2 crore in the corresponding time period last year.

In a statement, Videocon said that the Indian telecom service provider is targeting revenue of Rs 3,000 crore in fiscal 2015-16.

Videocon Telecom aims to add an additional 10 million mobile subscribers during the current financial year to the present 10 million. Videocon Telecom achieved 32 percent growth in its subscriber base over same quarter last year.

Despite the impact of increase in service tax and reduction in roaming rates, Videocon Telecom reported 21 percent increase in its NRPM (Net rate per min). The telecoms also reported a 15 percent growth in its minutes of usage during the same period.
Videocon Telecom CEO and director Arvind Bali
Videocon Telecom has doubled its data revenues. Data now contributes to approx 12 percent of the gross revenue and the company aims at taking up the data contribution to GR at 15 percent by end of current financial year.

The telecoms is targeting EBITDA positive in its MP and Haryana circles by the end of this financial year. Videocon Telecom earlier achieved EBITDA positive in its Punjab circle.

“We have achieved 99 percent of our targeted Gross Revenue in Quarter 1, and this is despite the increase in Service Tax incidence and Roaming rate implication. Our GSM Net Revenue is up by 43 percent over same quarter last year,” said Arvind Bali, director and CEO, Videocon Telecom.

Baburajan K
[email protected]