Quarterly Report q1 08

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IDEA Cellular Limited An Aditya Birla Group Company Registered Office: Suman Tower, Plot No. 18, Sector-11, Gandhinagar– 382011, India Corporate Office: 5th Floor, Windsor, Off C.S.T. Road, Near Vidya Nagari, Kalina Santacruz (East), Mumbai 400 098, India Quarterly Report of Unaudited Results First Quarter Ended June 30, 2008 1 of 24 !dea Quarterly Report June 08 SUPPLEMENTAL DISCLOSURES Unless stated otherwise, the financial data in this report is derived from our Unaudited/ audited consol
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1 of 24 !dea Quarterly Report June 08 IDEA Cellular Limited An Aditya Birla Group Company Registered Office: Suman Tower, Plot No. 18, Sector-11, Gandhinagar\u2013 382011, India Corporate Office: 5th Floor, Windsor, Off C.S.T. Road, Near Vidya Nagari, Kalina Santacruz (East), Mumbai 400 098, India Quarterly Report of Unaudited Results First Quarter Ended June 30, 20082 of 24 !dea Quarterly Report June 08 SUPPLEMENTAL DISCLOSURES Unless stated otherwise, the financial data in this report is derived from our Unaudited/ audited consolidated financial statements prepared in accordance with Indian GAAP. Our financial year ends on March 31 of each year, so all references to a particular financial year are to the twelve months ending March 31 of that year. In this Report, any discrepancies in any table between the total and the sums of the amounts listed are due to rounding-off. There are significant differences between Indian GAAP, IFRS, and U.S. GAAP; accordingly, the degree to which the Indian GAAP financial statements will provide meaningful information is entirely dependent on the reader\u2019s level of familiarity with Indian accounting practices. Any reliance by persons not familiar with Indian accounting practices on the financial information presented in this report should accordingly be limited. We have not attempted to explain those differences or quantify their impact on the financial data included herein. For definitions, please see \u201cGlossary\u201d on page 22 of this report. Unless stated otherwise, industry data used throughout this report has been obtained from industry publications. Industry publications generally state that the information contained in those publications has been obtained from sources believed to be reliable but that their accuracy and completeness are not guaranteed and their reliability cannot be assured. Although we believe that industry data used in this report is reliable, it has not been independently verified. In this report, the terms \u201cwe\u201d, \u201cus\u201d, or \u201cour\u201d, unless the context otherwise implies, refer to Idea Cellular Limited and its subsidiaries namely Swinder Singh Satara & Co. Limited, Aditya Birla Telecom Limited, Idea Cellular Services Limited, Idea Cellular Infrastructure Services Limited, Idea Cellular Tower Infrastructure Ltd. We have included statements in this report which contain words or phrases such as \u201cwill\u201d, \u201caim\u201d, \u201cwill likely result\u201d, \u201cbelieve\u201d, \u201cexpect\u201d, \u201cwill continue\u201d, \u201canticipate\u201d, \u201cestimate\u201d, \u201cintend\u201d, \u201cplan\u201d, \u201ccontemplate\u201d, \u201cseek to\u201d, \u201cfuture\u201d, \u201cobjective\u201d, \u201cgoal\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cwill pursue\u201d and similar expressions or variations of such expressions that could be considered to be \u201cforward-looking statements\u201d. Similarly, statements that describe our objectives, strategies, plans or goals are also forward-looking statements. Actual results may differ materially from those suggested by the forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy, our growth and expansion, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in domestic and foreign laws, regulations and taxes and changes in competition in the industry.3 of 24 !dea Quarterly Report June 08 Table of Contents 1. Overview............................................................................................................................................4 2. Financial Highlights........................................................................................................................6 3. Operational Highlights..................................................................................................................7 4. Financial Statements with Notes:............................................................................................8 5. Stock Market Highlights.............................................................................................................11 6. Management Discussion & Analysis......................................................................................13 7. Key Accounting Policies..............................................................................................................17 8. Glossary...........................................................................................................................................224 of 24 !dea Quarterly Report June 08 1. Overview Introduction A leading GSM mobile services operator, Idea Cellular has licenses to operate in all 22 service areas of India with commercial operations in 11 service areas. With a customer base of over 27 million, Idea Cellular runs operations in Delhi, Himachal Pradesh, Rajasthan, Haryana, Uttar Pradesh (East), Uttar Pradesh (West) & Uttaranchal, Madhya Pradesh & Chattisgarh, Gujarat, Maharashtra & Goa, Andhra Pradesh and Kerala. Idea Cellular had a market share of 16.6% as on June 30, 2008 in its 11 service areas of operation. Idea also has a license to provide National Long Distance services and the company carries part of its own traffic under the license. Idea holds spectrum for Mumbai, Bihar, Orissa, Tamilnadu (including Chennai) and Karnataka, and licenses for the remaining 6 service areas. With the planned launch of services in Mumbai, Bihar & Jharkhand, Orissa and Tamilnadu (including Chennai), all before the end of the calendar year and after the proposed amalgamation of Spice Communications (Punjab and Karnataka service areas), Idea's footprint will soon cover approximately 90% of India's telephony potential. Idea is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in India. Idea Cellular is a part of the US $ 28 billion Aditya Birla Group, India's first truly multinational corporation. The group has a market cap in excess of US $ 17 billion, operates in 20 countries, and is anchored by 100,000 employees belonging to 25 nationalities.
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