13 June 2011

Result Preview Idea Idea Cellular (Idea) :: Angel Broking,

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Result Preview
Idea
Idea Cellular (Idea) is set to announce its 4QFY2011 results today. We expect the company
to record revenue of `4,136cr with 4.6% qoq growth. This is expected primarily on the
back of higher subscriber growth of 8.3% qoq in the Indian mobile business,
overshadowing the effect of weak MOU at 394 (vs. 401 in 3QFY2011) and flattish ARPM
qoq at 0.44 paise/min. Consolidated EBITDA margin of the company is expected to grow
by 140bp qoq to 25.4%. PAT is expected at `174 cr. We maintain Neutral view on the
stock.

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