Idea Cellular standalone Q2 netprofit crashes to Rs 4.3 crore vs Rs 497.1 crore in Q1

[rahul1117kumar]

Idea Cellular reported a near 100% sequential fall in standalone net profit to Rs 4.3 crore in the seasonally weak second quarter of the year, hit by competitive pressures on the voice business, resulting in a sharp contraction in voice minutes.

For the July-September period, the standalone net profit of India’s No 3 carrier, crashed to Rs 4.3 crore from Rs 497.1 crore in the preceding three-month period.

Revenue for the Aditya Birla Group carrier fell 2% to Rs 9,300.2 crore from Rs 9,486.6 crore in the April-June period.

"The rising proportion of rural subscribers and the seasonal slowdown in the second quarter, had resulted in voice minute contraction on sequential quarterly basis by 1.9% to 195.5 billion compared to 199.3 billion” in the fiscal first quarter, the company said in a statement Monday.

Idea Cellular standalone Q2 net profit crashes to Rs 4.3 crore vs Rs 497.1 crore in Q1 - ET Telecom

 

[PRK]

What a drop! 497 Cr to 4.3 Cr !

 

[santosh]

Good news ...vodafone and airtel will too have Same fate ..
It's their karma that is hitting back now .. before Jio 4G they literally looted Customers. I had to pay ₹5 for 9mb 2G only :angry
Now have some taste of their own karma :tup

 

[Sarkar]

This is bound to happen if you don't invest on securing future. This AVoId group thought that that they will cash in 3G for at least 10-15 years. So didn't invest on 4G and deploy 3G in selected area but then suddenly Pan India Jio 4G pop up which makes their 3G network obsolete So now they are rushing to deploy 4G pan India to retain customers :lol