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Idea posts first quarterly loss since 2007

Pricing war forces Rs 384-cr loss, operating profit down 24%

Ram Prasad Sahu  |  Mumbai 

Idea Cellular reported consolidated quarterly loss of Rs 384 crore in the December quarter, a first since its listing in March 2007. While the company posted a net profit of Rs 659 crore in the year ago quarter and Rs 91 crore in the September quarter, a pricing war following Reliance Jio’s free trial offer led to the losses in the last quarter.  Analysts did not have high hopes from the December quarter results and had pegged the loss at Rs 403 crore. A 53 per cent rise in other income to Rs 44 crore helped to soften the blow from the poor revenue performance. The ...

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