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Amid price war, Idea posts third straight quarterly loss of Rs 815 cr in Q1

The telecom firm income fell by about 14% to Rs 81.82 billion

Reuters 

Idea Cellular Ltd, India's number 3 telecoms firm, reported a third straight quarterly loss on Thursday, reeling in the wake of a price war wrought by upstart entrant Reliance Jio. The company reported a net loss of Rs 8.15 billion ($127.13 million) for the three months ended June 30 after posting a profit of Rs 2.20 billion a year earlier. Analysts on average estimated a loss of Rs 6.71 billion, Thomson Reuters I/B/E/S data showed. Idea's capital expenditure guidance for the full year 2018 is Rs 60 billion, it said. Reliance Industries, led by ...

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First Published: Thu, July 27 2017. 17:15 IST
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