Higher other income (286% higher Q-o-Q at Rs 101.17 crore) and net finance income (including undisclosed exchange gain) at Rs 813.40 crore (Rs 407.55 crore in Q3 FY10), boosted the profitability of the company as even after considering about 211.70 crore EO loss (including Rs 210 crore impairment loss in Flag Telecom), the PAT after minority interest and share of associates stood 10% higher Q-o-Q to Rs 1219.50 crore.
For FY10, the company registered 3% drop in revenue to Rs 21496 crore. In wireless business, the revenue was down 4% Y-o-Y to Rs 16640 crore. The OPM dipped 590 bps Y-o-Y to 33.4% as a combined effect of increase in access charges and staff cost. The resulted operating profit stood 18% lower at Rs 7185 crore. The PAT (after minority interest and share of associates) stood at Rs 4655 crore, down 23% Y-o-Y.
The company has added 8.62 million wireless subscribers during the quarter (7.68 in sequential quarter) with total subscriber base crossing 100 million mark to 102.42 million.
The company has not recognized mark-to-market (MTM) gains of Rs 191.74 crore on valuation of derivative contracts outstanding at the end of March 2010. Otherwise the net profit would have been higher by the same amount.
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