Idea reports 86% y-o-y jump in quarterly consolidated net profit
Idea Cellular on Thursday announced that it enjoyed an impressive year-on-year increase of 86 per cent in its consolidated net profit for the quarter ended September 30, but also admitted that its `Voice Minute of Use' slipped by nearly 6 per cent quarter-on-quarter.
The mobile phone carrier announced that its consolidated net profit jumped from Rs 241 crore in the July-September quarter of 2012 to Rs 448 crore in the same quarter of this year.
Consolidated total revenue increased by 19 per cent, from Rs 5,314 crore to Rs 6,323 crore. But, `Voice Minute of Use' contacted by 5.8 per cent from the last quarter.
Idea Cellular said in a statement, "With increasing proportion of rural subscribers, the seasonal slowdown in the second quarter has become more pronounced resulting in sharp contraction in the `Voice Minute of Use' by 5.8 per cent to 138.8 billion minutes compared to 147.3 billion minutes in the first quarter of this financial year."
The mobile phone operator added that it was confident that it would be able to further consolidate its position in the telecom voice and data market in the fast-growing Indian telecom market.
Standalone net profit jumped from Rs 191 crore to Rs 387 crore; while total revenue on standalone basis climbed from Rs 5,227 crore to Rs 6,234 crore. Standalone EBITDA margin jumped 4 per cent year-on-year to settle at 27.6 per cent in quarter under review.