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Idea Cellular Quarterly Net Profit Beats Estimates

The company, which has 184 million mobile subscribers, posted a 38.9 per cent fall in profit to Rs 576 crore in the three months to the end of March, hurt by higher financing and spectrum fees of its 4G network

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Idea Cellular, India's third largest telecom company, reported a smaller than expected fall in quarterly profit helped by strong voice and data revenue.

The company, which has 184 million mobile subscribers, posted a 38.9 per cent fall in profit to Rs 576 crore ($86.60 million) in the three months to the end of March, hurt by higher financing and spectrum fees of its 4G network.

Profit did however exceed the Rs 527 crore expected by analysts, according to Thomson Reuters data. The figures are the fourth quarter of the company's financial year.

Idea, along with Bharti Airtel and Vodafone's India unit have been heavily spending on ramping up 4G networks in anticipation of Reliance Industries 4G telecom service launch later this year.

Idea, part of the Aditya Birla conglomerate and nearly a fifth owned by Malaysia's Axiata, said data revenue grew 5.2 per cent quarter-on-quarter while average revenue per user for voice services increased 1.7 per cent to Rs 179.

Total revenue rose 12.6 per cent to Rs 9,480 crore for the Jan-March quarter. 

(Reuters)


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idea cellular company results telecom 4g