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Idea Cellular Q1 Net Profit Up 32%, Lags Estimates

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Idea Cellular, India's third-largest mobile phone carrier by revenue, said its quarterly net profit increased by nearly a third, but lagged market estimates on higher costs.

Idea, a part of the Aditya Birla conglomerate, said consolidated net profit rose 32.2 per cent to Rs 234 crore for its fiscal first quarter ended June, from Rs 177 crore reported a year earlier.

Analysts on average had expected the company to report a net profit of Rs 301 crore, according to Thomson Reuters I/B/E/S.

Idea, in which Malaysia's Axiata owns about a fifth, ranks fourth by subscribers. It had about 116 million mobile customers as of May, 22 per cent higher than June last year.

(Reuters)


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