Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,018.40-24.8
Stock Analysis, IPO, Mutual Funds, Bonds & More

Idea posts 43% rise in Q3 profit

Idea Cellular surprised investors with a better-than-expected 43% rise in it's third quarter net profit as it added subscribers and the fall in call rates was arrested.

ET Bureau|
Jan 25, 2011, 05.37 AM IST
0Comments
MUMBAI: Aditya Birla-owned Idea Cellular surprised investors with a better-than-expected 43% rise in it's third quarter net profit as it added subscribers and the fall in call rates was arrested.

Chief executive Sanjeev Aga said the outperformance was partly attributable to the of season use of cell phones during the quarter. "We are seeing continued seasonality, that is why the December quarter is strong and the July quarter weak," he said.

Most festivals, including Diwali, fall in the quarter, increasing call and short text message traffic on telecom networks.

Idea said net profit for October-December rose to Rs 243 crore from Rs 170 crore a year ago. Revenue for the quarter was Rs 3,956 crore, up about 26% from a year ago.

Despite rise in subscriber base to nearly 82 million, the average monthly revenue per user for the company rose by a rupee to 168 in the just-ended quarter compared with July-September.

Idea also said it would launch thirdgeneration (3G) wireless services in its 11 telecom zones in the next few months. It is currently in talks with other operators for alliances to offer 3G beyond its licenced zones.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service