Telecom major reports operating profit of Rs 1,223 crore, while the operating margin came in at 18.8 percent.
Telecom major Idea Cellular widened its net loss for the December quarter to Rs 1,284 crore from Rs 1,106 crore posted during the same period last year. A poll of analysts by CNBC-TV18 were pegging this to be Rs 1,292 crore.
The company’s consolidated revenue has come in at Rs 6,510 crore against Rs 7,465 crore. The poll hinted the figure to be Rs 6,738 crore.
At the operating level, the earnings before interest, taxes, depreciation and amortisation (EBITDA) was reported at Rs 1,223 crore against Rs 1,501 crore in the previous quarter. The operating margin is at 18.8 percent against 20 percent during the same quarter last year.
Analysts polled by CNBC-TV18 said that in the September quarter IUC contribution to revenue was 14 percent and 20-21 percent to EBITDA.
In the month of September, the Telecom Regulatory Authority of India (TRAI) has cut interconnection usage charges (IUC) levied by telecom firms by 57 percent, adding that termination rates will be abolished in early 2020.The stock has fallen around 7 percent in the past one month. At 12:40 hrs Idea Cellular was quoting at Rs 94.85, down Rs 4.55, or 4.58 percent, on the BSE. It touched an intraday high of Rs 99.00 and an intraday low of Rs 93.40.