Idea Q3 profit dips on 3G spend, tax | business | Hindustan Times
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Idea Q3 profit dips on 3G spend, tax

Idea Cellular, an Aditya Birla Group company, reported a consolidated net profit of Rs 201 crore for the quarter ended December 31, an 18% fall, as against Rs 243 crore as compared with the same quarter last fiscal. The company’s profits took a hit as a result of depreciation and amortisation of the investments in 3G, larger provisioning for taxes and interest on loans, said Himanshu Kapania, managing director, Idea Cellular.

business Updated: Jan 23, 2012 20:57 IST
HT Correspondent

Idea Cellular, an Aditya Birla Group company, reported a consolidated net profit of Rs 201 crore for the quarter ended December 31, an 18% fall, as against Rs 243 crore as compared with the same quarter last fiscal. The company’s profits took a hit as a result of depreciation and amortisation of the investments in 3G, larger provisioning for taxes and interest on loans, said Himanshu Kapania, managing director, Idea Cellular.

Total revenue stood at Rs 5,030.8 crore, up 27% from Rs 3,995.6 crore in the year-ago period.

“The third quarter brings cheer to the company as our customer base has expanded to 106.4 million. Setting the platform for future growth beyond voice revenue and an increase in revenue per user. We were the fastest growing large telecom operator in the country last quarter with a rate of 27%,” said Kapania.

The company added 2.2 million new customers since the mobile number portability set in accounting for one in every four persons who chose to switch their telecom operators.

Meanwhile, the company's 3G plans are on track and its high speed network services have been extended to 2,300 towns and 20,000 villages in 20 circles, Kapania said.

The company’s shares ended 3.68% up at Rs 87.40 on the BSE.