BackIdea Cellular Q3 profit rises 64% to Rs767 crore
Revenue rose 21.2% to `8,010 crore from `6,607.70 crore in the year ago period
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Idea Cellular Ltd, India’s third-largest mobile phone services provider, on Tuesday reported a 64% gain in fiscal third quarter profit.
Net profit rose to ₹ 767 crore during the three months ended 31 December from ₹ 467.73 crore a year ago. Revenue rose 21.2% to ₹ 8,010 crore from ₹ 6,607.70 crore in the year ago period.
A Bloomberg poll of 24 analysts had pegged consolidated profit at ₹ 789.3 crore, while a Bloomberg poll of 25 analysts had pegged net sales at ₹ 7,955.5 crore.
Idea Cellular said it has 150 million subscribers, adding 21 million for the year ended 31 December, according to figures compiled by Cellular Operators Association of India, an industry lobby group. Idea said it is now the sixth-largest telecom operator in the world.
During the quarter, Idea carried 170.7 billion minutes of voice calls on its network, registering 5.1% sequential growth, and 46.1 billion MB of data. The contribution of value-added services improved to 23.1% of service revenue, a gain of 7% year-on-year.
The earnings were announced after market hours.
On Tuesday, Idea shares rose 1.1% to ₹ 170.35 on BSE, while the exchange’s benchmark Sensex gained 1% to close at 29,571.04 points. In the December quarter, shares of Idea Cellular fell 7.4%, while the Sensex gained 3.3%.
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