Idea Cellular net profit grows over 86% to Rs 447.61 cr
Idea Cellular on Thursday reported over 86 percent jump in net profit at Rs 447.61 crore for the quarter ended September 30 in the 2013-14 fiscal.
New Delhi: Idea Cellular on Thursday reported over 86 percent jump in net profit at Rs 447.61 crore for the quarter ended September 30 in the 2013-14 fiscal.
It had reported net profit of Rs 240 crore in the same period of 2012-13 fiscal, the company said in a statement.
Total revenue of the company during Q2, 2013-14 rose 18.99 percent to Rs 6,323.26 crore as compared to Rs 5,314 crore in the same period last year.
"The long term business trends remain robust and the company is on course of its mission of consistent, competitive responsible and profitable growth," Idea said.
The company added that it continues to invest in long term value creators, the company rolled out 3,762 sites for 2G services and 550 for 3G during the quarter.
"With the company clamping down on promotional minutes for new and existing customers, the average realised rate per minute improved over the year by 3.4 paisa per minute to 44.7 paisa per minute," Idea said.
The value added services (VAS) contribution also increased to 16.1 percent.
The VAS growth was primarily led by higher mobile data adoption.
The company's capital expenditure guidance for 2013-14 fiscal stands at Rs 3,500 crore excluding any spectrum related payout.