Idea Cellular Q1 net profit jumps 28 percent, beats estimates

The consolidated revenue rose 16% to Rs 8,798 cr

Idea Cellular Ltd posted on Tuesday a better-than-expected 28 percent jump in quarterly profit, helped by higher data revenue, and said it would introduce 4G LTE services in 10 service areas next year.

Net profit was Rs 930 crore ($146.36 million) in the quarter ended June 30, its fiscal first, compared with Rs 728 crore in the same period a year earlier.

Analysts, on average, had expected the company to post a net profit of Rs 906 crore, according to Thomson Reuters data.

The company, part of the Aditya Birla conglomerate, posted consolidated revenue of Rs 8,798 crores, 16.3% higher than a year earlier.