Himanshu Kapania, MD, Idea Cellular, said the company will bid for some circles in upcoming 3G auction and remaining at a later date. He expects the auction strategy to remain aggressive and competitive.
Not looking at raising fresh capital to bid in actions
Himanshu Kapania
MD
Idea Cellular
Idea Cellular will need 3G spectrum in 10 more circles, however, the company is not sure whether it will bid for all of them, said MD Himanshu Kapania.
"From a financial angle we have the ability to move to participate in this auction. Idea Cellular is going to participate in the fifth auction. In the last three auctions, Idea Cellular has balanced its investment so that we can take whatever we require, we believe this is going to add value to the shareholders," he said.
Speaking to CNBC-TV18, Kapania said the company will bid for some circles in upcoming 3G auction and remaining at a later date. He expects the auction strategy to remain aggressive and competitive.
Meanwhile, the government on Tuesday deferred the telecom spectrum auction by a week to March 4, while the deadline for bidders to submit applications has been extended to February 16. The changes were uploaded on the Department of Telecom website as first amendment in the notice inviting application for spectrum auctions. Earlier, the auctions were scheduled to start from February 25 and the interested bidders were asked to submit applications by February 6.
Discussing the third quarter results, Kapania said the strong performance has been backed by balanced growth in voice and data. He said the margin growth for the quarter was led by strong subscriber growth.
Aditya Birla Group-controlled Idea Cellular's third quarter consolidated net profit came in at Rs 767.1 crore, 1.5 percent higher compared to Rs 756 crore in the previous quarter. The company's revenues stood at Rs 8,017.5 crore, 5.9 percent higher than Rs 7569.9 crore it notched up in the second quarter.
Idea Cellular stock price
On January 27, 2015, Idea Cellular closed at Rs 170.35, up Rs 1.85, or 1.10 percent. The 52-week high of the share was Rs 177.30 and the 52-week low was Rs 125.10.
The company's trailing 12-month (TTM) EPS was at Rs 6.13 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 27.79. The latest book value of the company is Rs 44.09 per share. At current value, the price-to-book value of the company is 3.86.
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