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Idea Cellular's net profit for the second quarter of the current fiscal more than halved from a year ago as expenditure and interest costs rose, although total revenues rose 26 per cent year on year.
Its standalone net profit for the quarter amounted to Rs 73.94 crore, against Rs 165.98 crore in the same year-ago quarter, according to the company's filing with the BSE. Total income stood at Rs 4,577 crore, against Rs 3,628 crore.
The high interest and finance costs of Rs 253 crore included Rs 31 crore of forex loss, said the company.
On a year-on-year basis, the company's EBITDA rose 37 per cent, it said.
On a sequential basis, the market weakness became more pronounced with the increasing proportion of rural subscribers resulting in only a 2.2 per cent sequential revenue growth, against 6.7 per cent and 7 per cent in the previous two quarters, said the company.
Voice ‘minutes of use' also contracted 2.2 per cent sequentially although average realised rates grew 4.2 per cent, to 42.7 paise from 41 paise.
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