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Idea Cellular posts bigger-than-expected second-quarter loss

Reuters 

- Telecom carrier Ltd posted its fourth straight quarterly loss on Monday, as it struggled with the aggressive pricing structure brought in by an upstart rival.

Net loss after tax was 11.07 billion rupees ($169.45 million) in the quarter ended Sept. 30, compared with a profit of 915 million rupees a year earlier, said on Monday. (http://bit.ly/2i9WwuO)

Analysts on average expected the company to post a loss of 11.25 billion rupees, according to Thomson data.

Revenue from operations of the company, which is merging its operations with Vodafone Group Plc's Indian unit, fell about 20 percent to 74.66 billion rupees.

($1 = 65.3300 Indian rupees)

(Reporting by Tanvi Mehta and Arnab Paul in Bengaluru; Editing by Amrutha Gayathri)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 13 2017. 09:41 IST
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