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Videocon Telecom Achieves over Rs 1,000 Cr Revenues in FY14

Published: 03rd April 2014 03:32 PM  |   Last Updated: 03rd April 2014 03:32 PM   |  A+A-

By PTI

Videocon Telecom has achieved revenues of Rs 1,049 crore in the 2013-14 financial year on the back of strong growth in its operational four circles.

The company now aims to achieve a turnover of Rs 2,500 crore in 2014-15 fiscal.

"We are pleased to share that our top line revenue in the FY 2013-14 has been Rs 1,049 crore. The first year of our comeback has given us a good head-start and we now intend to grow our top-line to Rs 2,500 crore in this financial year,"

Videocon Telecom Director and CEO Arvind Bali said in a statement.

Videocon's 21 licences were among the 122 permits cancelled in the 2G case by the Supreme Court on February 2, 2012. It had acquired permits to operate across all circles in 2008.

The company in November 2012 auctions won spectrum in six circles for Rs 2,221.44 crore.

It has spectrum in seven circles, but offers services only in Punjab, Haryana, Madhya Pradesh/Chattisgarh and Gujarat circles.

The company, however, plans to launch services in the remaining circles by September-October this year.

"We may get the board approval by May, and around September-October we will try to launch services in circles of Bihar, UP East and UP West," Bali said.

The company had over 42.33 lakh customers at the end of January this year.

Bali said since making a comeback into the telecom market early last year, the operator has strongly grown in terms of subscribers and revenue.

The company has a Unified Licence which allows it to provide the entire range of services including 2G, 3G and 4G.

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