Business Standard

Idea Cellular Q1 total income at Rs 263 cr

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Press Trust of India New Delhi
Idea Cellular today posted total comprehensive income of Rs 263.6 crore in June quarter on account of one time gain from sale of mobile towers.
The company had posted a loss of Rs 816 crore in the same period a year ago.
The sale of its mobile towers to American Tower Corporation in the reported quarter for Rs 3,364.5 crore, an exceptional item, rescued the company from posting another quarter of loss, it said in a statement.
The company however registered a consolidated loss of Rs 2,757.6 crore before tax and exceptional items during the quarter.
Consolidated revenue from services declined by around 28 per cent to Rs 5,866.4 crore from Rs 8,166.5 crore in the year-ago period mainly on account of dip in mobile services business.
The mobile services business plunged around 28 per cent to Rs 5,745.3 crore from Rs 7,972.8 crore during the period under review.
Shares of Idea closed at Rs 58.45 per scrip, up 3.63 per cent from the previous close at BSE.

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First Published: Jul 30 2018 | 5:23 PM IST

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