Idea delivered subdued second quarter numbers. Profits fell 40% to just Rs 105 crore, as the company's depreciation & interest costs surged. Forex loss of Rs 31 crore also contributed to the fall in the bottom line.
Revenues too came in below esimates at Rs 4,600 crore, a growth of just 2% quarter-on-quarter. Margins declined by 90 bps, on the back of wage hikes and EBITDA losses in the new circles. Also watch the accompanying video for the full press conference.
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