wordpress blog stats
Connect with us

Hi, what are you looking for?

Q3-09: Idea Cellular Mobility PBT Down 3%; Non-Compete Payment To Spice; VAS

q309 idea cellular vas

Idea Cellular has posted a 3 percent drop in profit before tax in the mobility segment from Rs 2992.8 million last quarter to Rs 2901.6 million in Q3. The operator has seen a 19 percent rise in revenues to Rs 27364.3 million from Rs 22922 million last quarter.The company has been allocated spectrum in Kolkata, Assam, North-East and Jammu & Kashmir circles in December 2008 and for West Bengal in January 2009. Spice Deal Idea Cellular's stake in Spice has risen to 41.09 percent with the successful acquisition of 20 percent equity stake from public shareholders and purchase of 281,489,350 equity shares held by MCorp, which represented 40.8 percent of the total paid up equity capital of Spice. The operator plans to merge with Spice and is holding back roll outs of its network in Punjab and Karnataka where Spice was operating. Idea has licenses for these two circles and is carrying them at cost with plans to demerge them and begin a separate independent entity. Idea has also paid a non-compete fee of Rs. 5439.8 million to MCorp in July 2008 as a part of the acquisition which will last for three years. It has filed a request with the stock exchange to adjust the fees against the balance in the Securities Premium Account and amortisation of the non-compete fee amounting to Rs. 459.6 million for the current quarter was not performed. As a fund raising move, Aditya Birla Telecom Ltd (ABTL) has issued 19,25,000 Compulsory Convertible Preference Shares…

Please subscribe/login to read the full story.
Written By

http://www.linkedin.com/in/preethij

Free Reads

News

The service from the tie-up will initally be launched at Bengaluru, Bhubaneswar, Vijayawada and Visakhapatnam railway stations

News

The Minister's response came after an X user posted answers generated by Gemini regarding Prime Minister Narendra Modi.

News

Vaishnaw said that in the next five years, there will be significant disruptions in the way telecom technology operates.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

News

RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ