New Delhi, Aug 05: Idea Cellular today said that it is eyeing a growth of 40-50 per cent in gross revenues during the current financial year. The company also expects to start making profits in 18-24 months' timeframe on the basis of a "good growth" witnessed in the past few months. "We are already cash positive. If we continue to have a good growth, like in the past few months, we will start making profits in 18-24 months," Vikram Mehmi, officiating CEO of Idea Cellular said here on the sidelines of a conference to announce the company's new offering of a music message.
On the revenue side, Mehmi said that Idea expected its gross revenues to grow 40-50 per cent in the current financial year.
"Last year the gross revenues stood at about Rs 900 crore and we expect to grow about 40-50 per cent this year," he said.
He said that Idea would invest about Rs 600 crore in all its circles this year. Idea offers cellular services in Delhi, Maharashtra, Gujarat, Andhra Pradesh and Madhya Pradesh.
Bureau Report