Ahead of Vodafone merger, Idea Cellular posts Q1 profit on tower sale gain

Revenue declined mainly on account of down-trending of average revenue per user, which stood at Rs 100 as against Rs 105 in Q4FY18

Right ahead of its merger with Vodafone, Idea Cellular Ltd reported on Monday a surprise profit in the first quarter of the 2018-19 financial year, riding on a one-time gain from the sale of telecom towers. The company posted a net profit of Rs 2.57 billion for the quarter ended 30 June compared to a net loss of Rs 8.15 billion in the same period last year. Idea had posted a Rs 9.62 billion loss in the previous quarter. 

During the quarter, there was a gain of Rs 33.65 billion from the sale of Idea Cellular Infrastructure Services. Revenue from