Idea profit rises 87% to Rs 448 crore
MUMBAI: Idea Cellular on Thursday reported 86.5% rise in consolidated net profit at Rs 448 crore for the quarter to September, driven by robust data and voice revenues.
Total income increased to Rs 6,323 crore in second quarter (Q2) from Rs 5,314 crore in the year ago period.
"Despite weak rural access market, the company has performed well. Net profit improved by nearly 86 % and revenue jumped nearly Rs 1,000 crore on year- on-year basis," Idea MD Himanshu Kapania said. Higher voice and data businesses helped the company to reach a standalone net profit of Rs 399 crore in the quarter, up 13% from Rs 352 crore. With increasing proportion of rural subscribers, the seasonal slowdown in the second quarter has become more pronounced resulting in sharp contraction in the voice minutes of use by 5.8%, Kapania said.
Total income increased to Rs 6,323 crore in second quarter (Q2) from Rs 5,314 crore in the year ago period.
"Despite weak rural access market, the company has performed well. Net profit improved by nearly 86 % and revenue jumped nearly Rs 1,000 crore on year- on-year basis," Idea MD Himanshu Kapania said. Higher voice and data businesses helped the company to reach a standalone net profit of Rs 399 crore in the quarter, up 13% from Rs 352 crore. With increasing proportion of rural subscribers, the seasonal slowdown in the second quarter has become more pronounced resulting in sharp contraction in the voice minutes of use by 5.8%, Kapania said.
NAME-
SARVESH KUMAR SINGH
PGDM 1st SEMESTER
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