Millennium Post

Idea rings in 69% rise in quarterly net

Telecom services major Idea Cellular on Monday posted 68.8 per cent jump in consolidated net profit at Rs 755.88 crore for the quarter ended 30 September, 2014.

This is against a net profit of Rs 447.61 crore in the corresponding period last year. The Mumbai-based firm had registered 19.7 per cent increase in revenues at Rs 7,569.92 crore in the said quarter from Rs 6,323.26 crore in the same period last year.

The financial results include financials of its joint venture — Indus Towers as well. Indus dividend receipt stood at Rs 102.6 crore.

‘Idea Cellular is pleased to reverse the last two years of sequential revenue decline during the easonally weak July- September quarter due to contraction in voice minutes of usage with an absolute revenue growth of Rs 111 million,’ Idea said in a statement.

Idea's standalone Q2 FY15 revenue at Rs 7,567.3 crore has a year-on-year growth of 19.8 per cent on the back of 17 per cent annual increase in voice minutes of usage and 125.9 per cent growth in mobile data volume, it added.

The company has 143.6 million EoP customer base, with the addition of 4.6 million new customers during the quarter. The average revenue per user (ARPU) improved to Rs 176 as against Rs 164 in Q2 FY14. Shares of Idea jumped 4.6 per cent to end at Rs 161.05 apiece.
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