World News

Idea Cellular reports net loss of Rs 1106.8 crore in Q2

Idea Cellular reports net loss of Rs 1106.8 crore in Q2

Net loss after tax was 11.07 billion rupees ($169.45 million) in the quarter ended September 30, compared with a profit of 915 million rupees a year earlier, Idea Cellular said on Monday.

The company said its while broadband data usage almost doubled, the rate realisation "continued its free fall" during the three months ended September.

The revenue per subscriber fell 6.6 per cent QoQ to Rs 132 from 141 in June quarter.

At 9.33 am, the stock was trading 3.81 per cent lower at Rs 93.35 on BSE.

Idea's sequential quarterly voice minutes grew by 1.7 per cent to 255 billion minutes (against decline of 1.9 per cent in Q2FY17) and mobile data volume saw strong sequential growth of 73.5 per cent. It will have revenue of Rs81,600 crore and an operating profit of Rs24,400 crore.

More news: Sequential Brands Group Inc (SQBG) Stock Is At Yearly Low Now

(AMT) announced that ATC Telecom Infrastructure Private Limited, its majority owned Indian subsidiary, has agreed with Vodafone India Limited and Idea Cellular Limited to Acquire Tower Businesses for INR 78.5 billion, or about $1.2 billion cash at current exchange rates.

"Both Vodafone India and Idea as customers, and ATC TIPL as a mobile network infrastructure provider, have agreed to treat each other as long-term preferred partners, subject to existing arrangements".

On overall terms, Idea's gross investment in fixed assets has now risen to over Rs 1222 million, a net addition of Rs. 486 billion (capex + spectrum) during the last 24 months. The established telecom operators have seen locked in a fierce tariff war to protect their turf, following the entry of aggressive newcomer Reliance Jio in the market.

The Board has approved the execution of a share purchase agreement amongst ATC Telecom Infrastructure, the Company and ICISL. On consolidated basis, the company reported revenues of Rs 272.40 crore and net worth was Rs 175.80 crore.


  • IPhone X Users Complaining Of Crackling & Buzzing Sounds From Earpiece Speaker

    Many iPhone X users claimed that they restarted or even reset the device which doesn't help in getting rid of the line. There have been several reports filed on social media, and on the top Apple related blogs and chat forums on the web.
    Trump sarcastically responds to Kim Jong Un insults

    Trump sarcastically responds to Kim Jong Un insults

    Earlier in the week, Kim called Trump "a lunatic old man", according to the North Korean government. There always playing politics - bad for our country.

    Builders Firstsource (BLDR) Sees New 52-Week High

    The value of the total investment in Builders Firstsource went from $905,000 to $992,000 increasing 9.6% for the reporting period. FBR Capital has "Outperform" rating and $16 target. (NASDAQ:BLDR) has "Buy" rating given on Tuesday, June 27 by FBR Capital.
  • Actors shouldn't join politics only because they are popular: Prakash Raj

    Actors shouldn't join politics only because they are popular: Prakash Raj

    Hitting out at politicians, he further said, "In UP, we don't know whether he's a Chief Minister or the Poojari of a temple. His statement comes at a time when there is vast speculation over several actors' political ambitions.
    Toro Rosso hits back at engine supplier Renault as row escalates

    Toro Rosso hits back at engine supplier Renault as row escalates

    Toro Rosso now sits five points clear of Renault , but has scored just one point since Singapore, allowing Renault to catch up. The situation is playing out against the wider backdrop of the hard relationship between Red Bull and Renault .

    Happy Ex-mas: The Weekend is hooking up with Justin Bieber's ex

    Bieber famously called out The Weeknd's music , and The Weeknd released a song about taking another man's girlfriend. The R&B crooner and Yovanna sat in the back seat of the vehicle following a party at a mansion.
  • Rare 'dinosaur age' shark found in Portugal

    Rare 'dinosaur age' shark found in Portugal

    In fact, it's so rarely seen, despite being around long before humans, that it wasn't even discovered before the 19th century. An ancient and rare frilled shark has been found alive off the coast of Portugal, puzzling researchers over its survival.
    One Nation Senator leaves One Nation on first day of job

    One Nation Senator leaves One Nation on first day of job

    He had been aware of the tensions earlier but had been told by a One Nation senator at the weekend that all was well with Anning. Senator Anning, who has been contacted for comment, is the second Senator to quit the party since it was swept to power in 2016.

    This new Exynos processor could power Samsung's upcoming Galaxy S9

    The Galaxy J3 (2017) was introduced later in India with better specs. Galaxy J3 2018 will support 3G and 4G LTE network also. Let's see what Samsung set the price of J3 2018 model.
  • Fernando Torres Wants Premier League Return

    Fernando Torres Wants Premier League Return

    He is hopeful that either side will make a worthy offer which will convince the La Liga side to allow him a return to England. The Spain global , who has made 110 appearances for his country, has struggled for regular games for his country this season.
    Egypt puts British woman Laura Plummer on trial over painkillers

    Egypt puts British woman Laura Plummer on trial over painkillers

    He added his sister had thought she was doing a "good deed" and she was now "completely out of her comfort zone" in jail. If convicted of drug smuggling, she could face a prison sentence of between seven and 25 years.
    The Equality Campaign says Patterson bill is a license to discriminate

    The Equality Campaign says Patterson bill is a license to discriminate

    The bill would also guarantee the right of parents to opt their children out of school classes that conflicted with their values. Senator James Paterson has drafted the bill which would allow ministers and celebrants to refuse to perform gay marriages.