Aditya Birla group firm Idea Cellular has posted a 17.26% decline in the net profit for the first quarter ended June 30 at Rs 263.10 crore, due to the expiry of concessions in the licence fee in seven circles. The firm had a net profit of Rs 308.50 crore in Q1 of FY 2008. The company, which just announced its decision to merge with regional operator Spice Communications, said its EBIDTA, profit before tax and PAT were negatively impacted by Rs 29 crore due to the expiry of the period of 2% concession in licence fee for seven areas. During the quarter, the company also witnessed a forex loss of Rs 15.20 crore, against a gain of Rs 32.90 crore in the corresponding period a year-ago. The total revenue rose to Rs 2,178.10 crore in the latest quarter, from Rs 1,477.50 crore in the same period a year-ago. Idea ended the quarter with a subscriber base of 27.19 million in its operations in 11 circles and a market share of 9.6%.On Thursday, shares of Idea Cellular closed at Rs 87.65, down 3.84% on the BSE.
Idea Q1 net sinks 17 %
Aditya Birla group firm Idea Cellular has posted a 17.26% decline in the net profit for the first quarter ended June 30 at Rs 263.10 crore, due to the expiry of concessions in the licence fee in seven circles.
Written by Corporate Bureau
This article was first uploaded on July twenty-five, twenty eight, at fifty-three minutes past one in the night.
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