July 21: Idea Cellular today reported a 57 per cent jump in net profit at Rs 728.2 crore for the first quarter ended June 30, 2014, on increased demand for mobile Internet services.
The company had reported a profit after tax of Rs 462.71 crore in the same period a year ago.
“Strong consumer demand, brand affinity, expanding network footprint, spectrum portfolio and steady cash flows from operations reaffirm Idea’s ability to deliver consistent, competitive, responsible and profitable growth,” Idea Cellular said in a statement.
During the quarter, Idea saw a 136 per cent year-on-year growth in the mobile Internet business. The company sold 32.5 billion megabytes of mobile data on its 2G and 3G platforms. The network use of the company grew 12.2 per cent annually.
“The higher voice rate realisation and jump in data contribution to 11.5 per cent of the service revenue helped improve the average realisation per minute (ARPM) by 1.5 paise to 45.1 paise in the first quarter of the current fiscal from 43.6 paise in the preceding quarter. The value-added services contribution has improved sharply to 17.8 per cent of the overall service revenue,” the statement said.
Idea Cellular has reported about a 16 per cent jump in consolidated revenue at Rs 7,484.8 crore during the reporting quarter compared with Rs 6,470.93 crore in the same period a year ago.
The operator’s mobile data consumer increased 2.6 million to 27.9 million on a quarterly basis.
“Blended data ARPU (2G+3G) also improved to Rs 108 and use per data subscriber is at 409MB,” the statement said.
Shares of Idea closed at Rs 139.75 apiece, down 1.01 per cent, on the BSE.
Exide net up
Battery maker Exide Industries has reported a 16.68 per cent growth in net profit for the first quarter ended June 30 at Rs 185.30 crore against Rs 158.80 crore a year ago.
Net sales of the city-based company stood at Rs 1,909.61 crore, a growth of 17.41 per cent over the same period a year ago.
Exide’s managing director and chief executive officer P. K. Kataky said while demand for automotive and industrial batteries remained subdued during the quarter, replacement demand for automobile batteries improved. This was accompanied by a growth in sales in inverter batteries in both the automobile and industrial segments, including telecom.
The Exide scrip was down 1.13 per cent to Rs 157.90 on the BSE.