Idea Cellular’s Q1 net profit at Rs 257 cr

Mumbai: Telecom major Idea Cellular on Monday reported a consolidated net profit of Rs 256.5 crore during the quarter ended June, against a net loss of Rs 814.9 crore during the corresponding period of financial year 2017-18.

The total revenue of the company during the period under review was reported at Rs 6,030.6 crore, compared to Rs 8,181.7 crore earned during April-June 2017-18, Idea Cellular said in a regulatory filing to the BSE.

The profit came on the on the back of a one-time gain of Rs 3,364.5 crore, from the sale of Idea Cellular Infrastructure Services to ATC Telecom Infrastructure.

During the previous quarter (January-March), the company reported a net loss of Rs 962.2 crore.

The company further said: “The ARPU (Average Revenue Per User) for the quarter is Rs 100 against Rs 105 in Q4, 2017-18 (January-March).”

“Idea’s VLR (Visitor Location Register) subscribers as on June 30, 2018 stands at 203.4 million with a market share of 20.9 per cent (May 2018), an improvement of 1.4 per cent compared to May 2017,” it added.

Regarding the merger with Vodafone India and Vodafone Mobile Services, the company said the combined entity named Vodafone Idea will be India’s largest mobile operator and the second largest in the world, with nearly 408 million subscribers.

The merger received the approval from the Department of Telecom last week and is now subject to National Company Law Tribunal, Mumbai Bench, passing the dissolution order of VMSL and VIL, which is expected shortly.