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Idea Cellular posts profit of Rs 263.6 crore in the fiscal 1st quarter
TT Correspondent |  |  30 Jul 2018

Idea Cellular posted a profit of Rs 263.6 crore, in the fiscal first quarter, its first quarter in black , after six consecutive quarterly losses. This was aided by an exceptional gain from the sale of standalone towers to ATC. Otherwise, the Kumar Mangalam Birla owned telco would have been hit by a loss of Rs 2894.8 crore

The company in the same period last year had clocked a loss of Rs 815.9 crore.

Revenue for the third largest telco slumped nearly 22% on year to Rs 5889.2 crore, on account of continuing tariff wars, Idea said in a statement Monday.

The Kumar Mangalam Birla owned telco, which received the final approval for its merger with Vodafone India , ended the June ended quarter with an EBIDTA of Rs 659.5 crore , down by 64% when compared on a like to like basis.

The telecom company said its average revenue per user (ARPU) was Rs 100, a drop from Rs 105 , in the previous quarter as customers continued to prefer discounted tariffs.

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30 Jul 2018(IST)  
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