Idea Cellular Ltd., a part of the $24-billion Aditya Birla Group and India's leading GSM mobile services operator, reported a lower net profit, both on consolidated and stand-alone basis in the third-quarter due to higher depreciation and financing costs.
Consolidated Results
The Gandhi Nagar-based company posted a third-quarter consolidated net profit of Rs.200.98 crore or Re.0.61 per share, compared with Rs.243.05 crore or Re.0.74 per share in the third-quarter of last year. Net profit and earnings per share fell by 17 percent and 18 percent respectively.
Total quarterly revenue, including other operating income, amounted to Rs.5,030.82 crore, compared with Rs.3,955.61 crore in the corresponding quarter last year, an increase of 27 percent.
For the nine months, the company's consolidated net profit was Rs.484.01 crore, 22 percent lower than the Rs.624.19 crore a year ago. Total revenue, including other operating income, amounted to Rs.14,171.47 crore, compared with Rs.11,268.50 crore for the Apr-Dec 2010 period, reflecting a 26 percent growth.
Stand-alone Results
The company posted a third-quarter stand-alone net profit of Rs.162.89 crore, down by 26 percent than the Rs.221.06 crore in the prior-year quarter. Total revenue, including other operating income totaled Rs.4,966.45 crore, up by 26 percent from the Rs.3,929.05 crore in the year-ago quarter.
For the Apr-Dec period, the company's net profit was Rs.386.56 crore, fell by 34 percent from the Rs.588.68 crore for Apr-Dec period last year. Total revenue, including operating income, stood at Rs.14,027.71 crore, compared with Rs.11,187.58 crore in the corresponding period a year-ago, an increase of 25 percent.
The company's 3G investment plans are on track and its high-speed broadband services are now available across 2,300 towns in 20 service areas (including roaming arrangements) in India.
The company added that it is confident of overcoming the current uncertain regulatory phase, emerge stronger, consolidate its position in the telecom voice market and participate aggressively in evolving wireless broadband business.
At the BSE, Idea Cellular closed Monday's trading at Rs.87.40, up by Rs.3.10 or 3.68 percent on a volume of 18,45,000 shares.
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