Idea Cellular gains after declaring Q2 result

Idea Cellular rose 1.06% to Rs 162.75 at 09:16 IST on BSE after consolidated profit after tax rose 3.8% to Rs 755.90 crore on 0.11% growth in total revenue to Rs 7569.90 crore in Q2 September 2014 over Q1 June 2014.

The result was announced after market hours yesterday, 20 October 2014.

Meanwhile, the BSE Sensex was up 59.60 points, or 0.23%, to 26,489.45

On BSE, so far 56,087 shares were traded in the counter, compared with an average volume of 23.37 lakh shares in the past one quarter.

The stock hit a high of Rs 166.05 and a low of Rs 162 so far during the day. The stock hit a 52-week high of Rs 184.15 on 21 October 2013. The stock hit a 52-week low of Rs 125.10 on 28 February 2014.

The large-cap company has an equity capital of Rs 3596.55 crore. Face value per share is Rs 10.

Idea Cellular's total earnings before interest, taxation, depreciation and amortization (EBITDA) declined 0.52% to Rs 2490.70 crore in Q2 September 2014 over Q1 June 2014. EBITDA margin declined to 32.9% in Q2 September 2014, from 33.1% in Q1 June 2014.

Brand Idea continued its high subscriber growth momentum with 4.6 million net new customer additions in Q2 September 2014. Average Revenue Per User (ARPU) improved to Rs 176 in Q2 September 2014 as compared to Rs 164 in Q2 September 2013 and minutes of use per subscriber increased to 384 minutes in Q2 September 2014 as compared to 368 minutes in Q2 September 2013.

Idea Cellular's consolidated PAT including Indus 16% contribution sharply surged 68.9% to Rs 755.90 crore in Q2 September 2014 over Q2 September 2013. EBITDA on year-on-year (YoY) jumped 27.2% in Q2 September 2014 driving the EBITDA margin to 32.9%. Revenue rose 19.7% YoY in Q2 September 2014.

Idea Cellular said it has reversed the last two years trend of sequential revenue decline during the seasonally weak July-September quarter due to contraction in 'Voice Minutes of Use', with an absolute revenue growth of Rs 11.10 crore.

The strong consumer demand & brand association, expanding 2G & 3G network footprint, competitive spectrum portfolio with steady cash flows from operations affirms Idea's ability to deliver consistent, competitive, responsible and profitable growth, the company said. The company is well geared to meet all volatile, uncertain, complex and ambiguous developments and remains on course of its mission to improve its market standing both in Mobile voice and data business, Idea Cellular said in a statement.

Idea Cellular is the third largest wireless operator in India. It is part of Aditya Birla Group.

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