Idea Q4 net profit jumps 91 per cent to Rs 590 cr

Telecom major Idea Cellular on Monday announced an over 91- per cent jump in net profit at Rs 589.77 crore for the fourth quarter of the financial year ended March 31, 2014, on the back of an increase in both voice minutes and mobile data volume. The company had clocked a profit- after- tax of Rs 308.18 crore for the same quarter of the previous fiscal.

Total consolidated revenue during the January- March quarter rose by 16.2 per cent to Rs7,043.82 crore from Rs 6,061.38 crore in the year- ago period.

On a sequential quarterly basis, the company registered growth of 6.5 per cent in total revenue from Rs 6,613.06 crore posted in the third quarter of 2013- 14. "The sequential quarterly revenue growth was driven by 8.6- per cent growth in voice minutes and a 31- per cent surge in mobile data volume of both 2G and 3G services growth," Idea Cellular said in a statement.

On a yearly basis, consolidated net profit shot up 94.65 per cent at Rs 1,967.82 crore for 2013- 14 from Rs 1,010.93 crore in 2012- 13. Consolidated revenue increased by over 18 per cent to Rs 26,518.91 crore for the financial year 2014 from Rs 22,457.65 posted at the end of FY13.

The company clocked 1.77 crore net subscribers that were active in FY14 against 1.49 crore net subscribers in FY13.

Idea Cellular's total subscriber stood at 13.79 crore by the end of March 31, 2014, the statement said.

The average revenue of company from subscriber increased to Rs173 from Rs169 on quarterly basis. The company witnessed decline of 2.8 per cent in average revenue per minute from consumers to 43.6 paise from 44.9 paise. However, Idea improved non voice revenue share to 16.5 per cent from 16.1 in Q3 FY14 led by data (mobile Internet) growth.

Courtesy: Mail Today