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Idea net profit jumps 69% to ` 756 crore [Mail Today (India)](Mail Today (India) Via Acquire Media NewsEdge) ADDITION of more subscribers compared to its rivals and attractive data plans helped Idea Cellular post 68.8- per cent jump in consolidated net profit at ` 755.88 crore for the second quarter as against ` 447.61 crore in the corresponding period in the last financial year. The results beat the average analyst estimate of ` 665 crore in net profit, according to Thomdon Reuters I/ B/ E/ S. Revenues rose 19.7 per cent to ` 7,569.92 crore in the July- September quarter from ` 6,323.26 crore in the same period last fiscal. The financial results include financials of its joint venture Indus Towers. Indus dividend receipt stood at ` 102.6 crore. " Idea Cellular is pleased to reverse the last two years of sequential revenue decline during the seasonally weak July- September quarter due to contraction in voice minutes of usage with an absolute revenue growth of ` 111 million," the telecom major said in a statement on Monday. " Standalone Q2 FY15 revenue at ` 7,567.3 crore has a year- on- year growth of 19.8 per cent on the back of 17- per cent annual increase in voice minutes of usage and 125.9- per cent growth in mobile data volume," Idea added. The company has 143.6 million EoP customer base with the addition of 4.6 million new customers during the quarter. The average revenue per user improved to ` 176 as against ` 164 in Q2 FY14. Idea added about 1.7 million subscribers to its network in September, according to Cellular Operators Association of India. Shares of Idea jumped 4.6 per cent to end at ` 161.05 apiece on Bombay Stock Exchange. Unlike rival Bharti Airtel, which has other businesses, Idea is a mobile services company and operates within India making it a preferred telecomd stock for some brokerages. Idea is part of the Aditya Birla conglomerate and about 20 per cent owned by Malaysia's Axiata. (c) 2014 India Today Group. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info). |