Idea Cellular Announces Audited FY 07 Results

Idea Cellular Ltd has announced the following Audited Results for the year ended March 31, 2007:

The Company has posted a profit after tax of Rs 5020.60 million for the year ended March 31, 2007 where as the same was at Rs 1256.00 million for the year ended March 31, 2006. Total Revenue is Rs 43873.30 million for the year ended March 31, 2007 where as the same was at Rs 20176.40 million for the year ended March 31, 2006.

The Consolidated Results are as follows:

The Group has posted a net profit after tax of Rs 5022.20 million for the year ended March 31, 2007 where as the same was at Rs 2117.70 million for the year ended March 31, 2006. Total Revenue is Rs 43873.30 million for the year ended March 31, 2007 where as the same was at Rs 29869.20 million for the year ended March 31, 2006.

The Company along with its 100% subsidiaries namely, Idea Mobile Communications Ltd, BTA Cellcom Ltd, Idea Telecommunications Ltd (acquired during the current financial year), Sapte Investments Pvt Ltd, Vsapte Investments Pvt Ltd, Bhagalaxmi Investments Pvt Ltd and Asian Telephone Services Ltd had filed applications for amalgamation of these Subsidiaries into the Company with the respective High Courts within whose jurisdiction the Registered Office of these Companies are situated in February 2007.

The scheme of amalgamation is sanctioned by the Honourable High Courts of Delhi, Gujarat, Madhya Pradesh and Bombay, and accordingly the assets, liabilities, reserves and accumulated losses of the above subsidiaries were transferred to and vested in the Company with effect from April 01, 2006. The last of the High Court Orders approving the scheme was received on September 10, 2007 and the last of the certified copies of the High Court Orders sanctioning the scheme was filed with the Registrar of Companies (RoC) on September 14, 2007.