Jio offensive: Idea rings in ₹816 cr loss in April-June
Telecom operator Idea Cellular on Thursday posted a loss of Rs 815.9 crore in the first quarter ended June 30, impacted by sustained pressure from disruptive tariffs of Reliance Jio. This is the third straight quarter loss for the Aditya Birla group firm as it has not been able to recover from the pressure of aggressive tariff war triggered by Reliance Jio.
Idea Cellular had posted a profit of Rs 217.1 crore in the same period a year ago. Total revenue of Idea also declined by about 14 per cent to Rs 8,181.7 crore in the reported quarter from Rs 9,552.4 crore it posted in the corresponding period of 2016-17.