Telenor India Q2 revenue reaches Rs 696 crore, down 27 percent

Telenor India reported Q2 revenues of Rs 696 crore, down by 27 percent Y-o-Y.

On the other hand, revenues in six circles increased by 7 percent compared to second quarter last year despite negative development in Maharashtra following closure of neighbouring Mumbai circle earlier this year.

The company’s number of subscriptions increased by 0.9 million in the second quarter taking the total subscriber base to 24.5 million. In the second quarter of 2012, the comparable six circle subscription base closed at 23.5 million.

In the quarter, the quality of the customer base improved, resulting in an increase of ARPU from Rs 94 in first quarter to Rs 97 in second quarter.

The EBITDA loss improved to Rs 146 crore mainly as a result of the revenue development and product optimisation positively impacting the gross margin.

In the second quarter of 2013, Telenor Group reported revenues of NOK 25.7 billion, representing an organic revenue growth of 2 percent.

“Telenor’s geographical footprint covers both advanced and growing economies, offering growth opportunities and profitability as demonstrated in the second quarter. At the same time, regulatory issues remain a challenge, particularly visible in Bangladesh and India during this period,” said Jon Fredrik Baksaas, president and CEO, elenor Group.

In the second quarter the company gained more tham 5 million new subscribers driven by strong growth in Asia. The company was recently declared a successful applicant for a telecommunications licence in Myanmar.

We are currently awaiting the telecom law and final licence conditions from the local authorities. Our acquisition of Bulgaria’s second largest telecom operator Globul has been approved by the EU Commission added Baksaas.

In terms of outlook for 2013, the company has announced organic revenue growth in the range of 2-3 percent and EBITDA margin before other income and expenses around 34 percent.

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