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Jio impact: Idea Cellular posts second straight quarterly loss

Company's Q4 loss at Rs 328 cr, compared with Rs 452 cr profit a year ago

Reuters  |  Mumbai 

Idea Cellular Ltd, India's third-biggest telecoms operator, posted its second straight quarterly loss after a rival carrier's free services hit sales and eroded margins. The free offerings of Reliance Industries' telecoms venture Jio, which started operations late last year, have sparked a fierce price war in the world's second biggest mobile phone market, forcing rivals such as Idea to launch cheap service plans. That has impacted revenues and profitability across the uber-competitive telecoms sector. Idea, part of the Aditya Birla conglomerate, on Saturday said ...

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First Published: Sat, May 13 2017. 16:12 IST