vodafone towers ltd Management discussions

VODAFONE ESSAR EAST LIMITED (FORMERLY KNOWN AS HUTCHISON TELECOM EAST LIMITED) ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL PERFORMANCE: Set out below is the summary of the financial performance of the Company during the period under review: Rs. Million Particulars Period ended Year ended 31 Mar 2008 31 Dec 2006 Revenue from operations 8,853.80 5,390.60 PBIDTA 3,199.90 2,193.40 Depreciation and Amortisation 1103.40 486.30 Finance charges 42.80 23.80 Profit Before Tax 2,053.70 1,683.30 Profit After Tax after adjusting MAT credit entitlement 2,063.70 1,734.00 The Earning Per Share for the year improved by about 18.89% to Rs. 10.7 per share from Rs. 9 per share in the previous year. OPERATIONS: The 15 month period has been a challenging and highly competitive but profitable year for the Company. The Company added the largest number of new subscribers ever in its history adding about 788,000 new subscribers to take the total base close to 2 million. The Company thus continued to be the market leader in Kolkata metro circle with a 25.3% market share. During the year under review, the Company has widened its innovative and user friendly services and keeping in line with the latest global technology, the company introduced a variety of Value Added Services (VAS) like Vodafone Alerts, Missed Call Information, Vodafone Music Station, etc. The Company, in line with its groups initiatives launched the magic box offer which was met with overwhelming response The network was also expended substantially to match the subscriber growth and maintain the quality.