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Idea Cellular Profit Rises 30%; Beats Estimates

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Mobile phone operator Idea Cellular reported a better-than-expected 30 per cent rise in quarterly profit on 25 April' 2013, continuing to win market share through strong subscriber additions.
 
Older companies such as top carrier Bharti Airtel, Idea and Vodafone's India unit, have benefited from a court order last year that revoked permits awarded in a scandal-tainted sale, causing several smaller rivals to either fold up or cut back operations.
 
Idea, part of the Aditya Birla conglomerate, said consolidated net profit rose to Rs 31 crore for its fiscal fourth quarter ended March, from Rs 24 crore reported a year earlier. It was the fourth consecutive quarter of earnings growth for the country's No.3 mobile carrier by revenue.
 
Analysts on average had expected the company to report a net profit of Rs 28 crore, according to Thomson Reuters data.

(Reuters)


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