Idea Cellular reports 68.8% jump in Q2 net profit, to Rs 755.88 crore

Idea Cellular, the domestic telecom services major, on Monday reported a 68.8 per cent increase in consolidated net profit at Rs 755.88 crore for the quarter ended September 30, 2014, as against a net profit of Rs 447.61 crore in the corresponding period in FY14.

The Mumbai-based telecom company had registered 19.7 per cent increase in revenues at Rs 7,569.92 crore in the reporting quarter from Rs 6,323.26 crore in the same period last year.

The financial results include financials of its joint venture - Indus Towers as well.

Indus dividend receipt stood at Rs 102.6 crore.

"Idea Cellular is pleased to reverse the last two years of sequential revenue decline during the easonally weak July- September quarter due to contraction in voice minutes of usage with an absolute revenue growth of Rs 111 million," the telecom operator said in a statement.

Idea's standalone Q2 revenue grew by 19.8 per cent on year-on-year basis at Rs 7,567.3 crore on the back of an annual 17 per cent increase in voice minutes of usage and 125.9 per cent growth in mobile data volume, it added.

The telecom firm has 143.6 million EoP customer base, with the addition of 4.6 million new customers during the September-quarter.

The average revenue per user (ARPU) improved to Rs 176 as against Rs 164 in Q2 FY14.

Shares of Idea surged by 4.6 per cent to end at Rs 161.05 per scrip.