Idea Cellular slips into red with Q3 net loss of Rs 384 cr

Idea Cellular slips into red with Q3 net loss of Rs 384 crLatest News – Telecom operator Idea Cellular today logged a consolidated net loss of Rs 383.87 crore for the December 2016 quarter compared to a net profit of Rs 659.35 crore in the year-ago period, hurt by newcomer Reliance Jio’s free voice and data promotions.

Total income also has decreased to Rs 8,706.36 crore for the quarter, from Rs 9,032.43 crore in the same period in the previous year, as per a BSE filing.

“The Indian mobile industry witnessed an unprecedented disruption in the quarter of October to December 2016, primarily due to free voice and mobile data promotions by the new entrant in the sector,” Idea Cellular said in a statement.

Consequently, revenue KPIs (key performance indicators) and financial parameters for (Read More)

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