Idea Cellular reports Q2 net loss at Rs1,107 crore


Mumbai: Idea Cellular Ltd posted its fourth straight quarterly loss on Monday, as it struggled with the aggressive pricing structure brought in by an upstart rival.

Net loss after tax was Rs1,107 crore in the quarter ended 30 September, compared with a profit of Rs91.5 crore a year earlier, Idea Cellular said on Monday.

Analysts on average expected the company to post a loss of Rs1,125 crore, according to Thomson Reuters data.

Revenue from operations of the company, which is merging its operations with Vodafone Group Plc’s Indian unit, fell about 20% to Rs7,466 crore.