Idea Q3 profit below estimates, down 4.5% to Rs 229 cr

Telecom operator Idea Cellular disappointed the street by reporting lower than expected consolidated net profit at Rs 229 crore in the third quarter of financial year 2012-13, down 4.5 percent compared to Rs 239.9 crore in second quarter of current fiscal. "High cost, particularly fuel, hurt Q3 earnings," the company said in a press conference. 

Consolidated revenues rose by 5 percent quarter-on-quarter - in-line with forecast - to Rs 5,578 crore in October-December quarter. Analysts on an average were expecting net profit at Rs 245 crore and revenues at Rs 5,509 crore for the quarter. Earnings before interest, tax, depreciation and amortisation (EBITDA) went up by 3.6 percent QoQ to Rs 1,473.4 crore, beating analysts' forecast of Rs 1,462 crore. EBITDA margin fell to 26.4 percent in December quarter as against 26.76 percent in previous quarter and analysts' expectations of 26.5 percent. Average revenue per minute dropped to 41.1 paise as against 41.3 paise per minute in previous quarter and expectations of 41.4 paise, impacted fall in non-voice revenue contribution. Non-voice revenue contribution fell 1 percent quarter-on-quarter to 14.6 percent

 

Idea posted a foreign exchange loss of Rs 13.3 crore in December quarter as against gain of Rs 18 crore in September quarter.

 

Voice minutes grew 5.2 percent QoQ to 132.2 billion minutes in October-December quarter.   "We cut FY13 capex to Rs 3,000 crore as against 3,500 crore planned before," the Idea said.