Idea Cellular Q3 net loss expands to Rs1,285 crore

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Bengaluru: Idea Cellular Ltd posted a fifth consecutive quarterly net loss on Wednesday, hurt by a sharp cut in interconnection fees that telecom operators pay each other.

Its net loss widened to Rs1,285 crore in the third quarter ended 31 December, versus a loss of Rs384 crore a year earlier, Idea Cellular said on Wednesday.

Eleven analysts, on average, expected the company to post a loss of Rs1,280 crore, Thomson Reuters data shows.

Revenue from operations of the company, which is set to merge with Vodafone Group Plc’s Indian unit, fell about 25% to Rs6,510 crore.

At 12.49pm, Idea shares traded 4.88% down at Rs94.55 on BSE, while the Sensex fell 0.10% to 36,102.35 points.livemint