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Videocon logs 43% rise in revenues; eyes Rs 3,000 cr topline in FY'16

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VoicenData Bureau
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Videocon Telecom growth

NEW DELHI: Videocon Telecom has posted a 43% growth in its net revenue for GSM business in the first quarter of FY 2015-16 over the same quarter last financial year and is targeting a consolidated top line revenue of Rs 3,000 crore in the year 2015-16.

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Going aggressive on customer acquisition, Videocon Telecom achieved 32% growth in its subscriber base over same quarter last year. While, the June 15 industry net subscriber addition no’s are still awaited, within April and May 2015, against the industry net subscriber addition (-) 90K in the four operational circle of the telco, Videocon Telecom added 311K Net subscribers addition, a release said.

The telco plans to acquire 10 million new subscribers this financial year.

Despite the impact of increase in service tax incidence and reduction in roaming rates, Videocon Telecom reported a 21% improvement in its NRPM (Net rate per min) in Q1 this year over previous year. The telco also reported a 15% growth in its minutes of usage during the same period.

Owing to its strategy to upgrade its Network to 2.75 G EDGE, the telco has been substantially growing its data revenues. Videocon Telecom has doubled its data revenues in Q1 this year over same quarter last year, surpassing the industry growth. Data now contributes to approx 12% of the Telco’s Gross Revenue and the company aims at taking up the data contribution to GR at 15% by end of current financial year.

Arvind Bali, Director and CEO, Videocon Telecom, said, “It is said, ‘well begun is half done’, and I am pleased with the results of Q1 this year. We have achieved 99% of our targeted Gross Revenue in Quarter 1, and this is despite the increase in Service Tax incidence and Roaming rate implication. Our GSM Net Revenue is up by 43% over same quarter last year, and all KPIs, be it gross level or unit level, look promising."

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