Idea Cellular Q2 net profit up 69 per cent at Rs 755.9 crore

NEW DELHI: Idea Cellular's consolidated net profit for the fiscal second quarter jumped nearly 69%, beating estimates, on the back of strong subscriber additions and as data growth continued to be strong, but sequential growth was muted in a traditionally weak quarter for the industry.

The country's No. 3 carrier said net profit rose to 755.9 crore for the quarter ended September 30 from Rs 447.6 crore a year earlier. Analysts had expected net profit at around Rs 650 crore. Revenue rose nearly 20% to Rs 7570 crore. Sequentially, net profit rose nearly 4% while revenue was up a marginal 0.1%.

"The company is well geared to meet all volatile, uncertain, complex and ambiguous developments and remains on course of its mission to improve its market standing both in mobile voice and data business," Idea said in a release Monday.