Jio effect? Idea Cellular posts net loss of Rs 1,285 crore in Q3

The telecom major revenue hurt by sharp cut in interconnection fees that operators pay each other.

Jio effect? Idea Cellular posts net loss of Rs 1,285 crore in Q3

Telecom major Idea Cellular Ltd posted a fifth consecutive quarterly net loss on Wednesday, hurt by a sharp cut in interconnection fees that operators pay each other.

Its net loss widened to Rs 1,285 crore ($202 million) in the third quarter ended December 31, versus a loss of Rs 384 crore a year earlier, Idea Cellular said on Wednesday. 

Eleven analysts, on average, expected the company to post a loss of Rs 12.80 billion, Thomson Reuters data shows.

Revenue from operations of the company, which is set to merge with Vodafone Group Plc`s Indian unit, fell about 25 percent to Rs 65.10 billion.

($1 = Rs 63.6725)

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