Idea Cellular Q1 net profit slips

25 Jul 2008

Idea Cellular posted a 14.7% fall in first quarter net profit, hit by foreign exchange losses and the expiry of a 2% concession in licence fees for seven service areas. In the three months ended 30 June 2008 profit after tax was INR2.63 billion (USD55.1 million), compared to INR3.09 billion a year earlier. Total revenues rose to INR21.78 billion from INR14.78 billion while EBITDA climbed from INR5.14 billion to INR7.2 billion. During the quarter Idea added 3.19 million new subscribers to its base to take the total to 27.19 million.

India, Vi (Vodafone Idea Limited, VIL)