Idea Cellular Q2 net profit at Rs 220 crore

Aditya Birla Group company Idea Cellular reported a consolidated net profit of Rs 220.15 crore for the second quarter of the fiscal.

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The consolidated financial results include proportionate figures of Spice Communications. Hence, the figures of current year are not comparable to those of the previous year, Idea Cellular said in a filing to the Bombay Stock Exchange. Idea Cellular had acquired Spice Communications last year.

Its net stood at Rs 144.07 crore in the same period in the last fiscal.

The total income of the telecom operator rose to Rs 3,005.60 crore during the September quarter from Rs 2,303.65 crore in the year-ago period,

On stand-alone basis, Idea Cellular posted a net profit of Rs 273.15 crore during the period against Rs 150.39 crore in the year-ago period.

The total income on stand-alone basis increased to Rs 2,797.17 crore. “The July-September quarter marks seasonally subdued demand. Delayed monsoon has caused a further contraction in aggregate rural demand,” the company said.

The board of directors of the company has approved to make effective the demerger of its passive infrastructure like towers and power back-up plants to its wholly-owned subsidiary Idea Cellular Towers Infrastructure.