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HindustanTimes Sat,19 Apr 2014

Idea Q1 net jumps 32% on new business

HT Correspondent, Hindustan Times  Mumbai, July 23, 2012
First Published: 20:59 IST(23/7/2012) | Last Updated: 21:03 IST(23/7/2012)

Idea Cellular, the country's third-largest mobile phone service provider by revenue, said on Monday that its first quarter net  profit jumped 32% to Rs. 231.1 crore from Rs. 177.26 crore a year ago as the company strengthened its position in some service areas.

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The Aditya Birla Group company said it had gained in areas where it was a late entrant. Gross revenue rose by 21.7% to Rs. 5,503.7 crore in April-June from Rs. 4,520.7 crore a year earlier.

The quarterly figures also include the financials of Indus Towers, in which Idea Cellular holds a 16% stake.

Idea Cellular said its average realisation per minute (ARPM) slid 2.3% to 41.2 paise in April-June from 42.2 paise in the previous  quarter, suggesting that growth could be muted in the first half of 2012-13.

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