Idea Cellular Q2 net profit surges, beats estimates

  • Reuters, New Delhi
  • |
  • Updated: Oct 24, 2013 17:08 IST

Idea Cellular Ltd, India's third-biggest mobile phone carrier by revenue, said on Thursday its quarterly net profit surged 86% after it was able to raise call prices in the world's second-biggest mobile phone market.

Idea, part of the metals-to-financials Aditya Birla conglomerate, said consolidated net profit rose to 4.48 billion rupees ($73 million) for its fiscal second quarter to September 30, from 2.41 billion rupees a year earlier.

Analysts on average expected the company, nearly a fifth owned by Malaysia's Axiata, to report a net profit of 4.22 billion rupees.

Bigger Indian phone carriers such as Bharti Airtel Ltd, Vodafone Group Plc's local unit and Idea have cut discounts and raised some call prices this year.

 

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