Idea Cellular

Idea shares slip nearly 4% on lower-than-expected quarterly results

Idea shares slip nearly 4% on lower-than-expected quarterly results

Idea Cellular shares slipped nearly 4 per cent on Friday, a day after India's third-largest mobile phone operator reported lower-than-expected quarterly results.

On Thursday, Idea announced that its consolidated net profit in the July to September quarter slipped 3.3 per cent to Rs 447.6 crore. The operator's total voice minutes of use slipped 5.8 per cent, from 147.3 billion minutes in April to June quarter to 138.8 billion minutes in July to September quarter. Analysts had projected 141.5 billion minutes for the company's quarter under review.

Airtel, Idea Cellular hike ISD rates

Airtel, Idea Cellular hike ISD rates

Two Indian telecom operators have hiked their international call rates, mainly to cope with the impact of depreciation in the value of rupee.

Bharti Airtel, the country's leading mobile phone operator, has announced an increase of up to 80 per cent in international call rates; while Idea Cellular has increased international call rates by up to 25 per cent.

The official websites of the two operators revealed that standard international call rates to countries like the United States, Britain and Canada have been increased from Rs 6.40 per minute to Rs 8 per minute.

Telecom giants might have faced tougher 2nd quarter

Telecom giants might have faced tougher 2nd quarter

Telecom giants in India are likely to have had a tougher second quarter ended September 30 this year, according to analysts' estimates.

Analysts are of the view that telecom firms like Bharti Airtel, Idea Cellular and Reliance Communications most likely have suffered tougher second quarter as modest sequential revenue per minute growth, decline in average revenue per minute and a fall in call traffic might have likely made the seasonally weak September quarter ever weaker.

Idea Cellular shares gain nearly 2% on report to sell tower business to Axiata

Idea Cellular shares gain nearly 2% on report to sell tower business to Axiata

Shares of Aditya Birla group-owned Idea Cellular gained nearly 2 per cent in the morning trade on Tuesday, on media reports that the telecom operator is in talks with Axiata of Malaysia for selling its tower business.

Citing two people familiar with the matter, The ET reported that Idea Cellular is pursuing discussions for selling its towers to the Malaysian firm.

The report said the Indian firm was looking to sell 9,400 towers, and use the proceeds from the deal for licence renewals and purchase of spectrum.

Idea Cellular and its Subsidiary Slapped with Rs 3,900-crore Tax Notice

Idea Cellular and its Subsidiary Slapped with Rs 3,900-crore Tax Notice

Income tax department has issued Idea Cellular Ltd. and its subsidiary, Aditya Birla Telecom, a notice of Rs. 3,900-crore, avowed recent reports.

The report was revealed on Saturday. Idea accepted the same in an interaction on Friday but didn't reveal the amount. Officials from the income tax department said that the transfer of assets between Idea and its subsidiary were subject to capital gains tax, said a report from the Economic Times.

Idea Cellular’s Q2 net profit down 41%

Idea Cellular’s Q2 net profit down 41%

On Friday, Idea Cellular - an Aditya Birla Group firm - posted a distressing 41 percent plunge in its consolidated net profit, from Rs 180 crore to Rs 105.76 crore, in the second quarter --- a situation that is chiefly a result of larger interest cost and forex losses.

The sharp fall in the mobile providers' consolidated net profit during the second quarter was chiefly an upshot of high interest costs, largely due to third generation (3G) debt, as well as an increase in manpower costs.

‘No Idea’ Seems To Be Working For Idea

‘No Idea’ Seems To Be Working For Idea

Inspite of the major campaigns that the firm keeps on launching every now and then, Idea, internet and mobile service Provider Company is seeing a fall in the profits. They have seen a fall of about 12% in the net profits in the first quarter.

The firm which is a part of the Aditya Birla group has been facing slight turbulence in the past as well, but this seems to be a major setback for them.

Idea Cellular sheds over 7 percent on BSE

Idea Cellular sheds over 7 percent on BSE

On Tuesday, there was a decline in the shares of Idea Cellular. It slumped by over 7 per cent in early trade on the Bombay Stock Exchange. This happened after the telecom firm was charged with a Rs 300 crore fine over supposed violation of M&A norms.

Idea Cellular has been charged for breaking merger and acquisition norms by the Additional Solicitor General (ASG) of India. It has imposed tough penalties including a Rs 300 crore fine and termination of 3G spectrum licences in four circles along with the 2G licences in six circles.

Idea Cellular reports 43 per cent rise in net profit

Idea Cellular reports 43 per cent rise in net profit

Idea Cellular telecom Company, owned by Aditya Birla Group has posted more than expected net profit in the recent quarter. The company has earned net profit of Rs 243 crore in the third quarter ended December 2010. It has posted a rise of 43% rise in net profit from Rs170 crore in the year ago period. While revenue, grew by 26 per cent. BSE recorded the stock at Rs72.05, up by 3.97%.

Indus Tower is a joint venture in which Vodafone Essar and the Bharti Group own 42 per cent each and Idea Cellular has 16%.

Idea, Vodafone leading in Mobile Number Portability rush

Idea, Vodafone leading in Mobile Number Portability rush

Idea Cellular and Vodafone India are the leading telecom companies in the country who will come up with the Mobile Number Portability facility first. They have already started their campaign to attract the customers form their rival companies to switch to their network. Both the companies are trying to market their products aggressively with some frantic marketing moves.

Mobile Number Portability service will allow the mobile users to switch to another service provider without changing their existing number. The subscribers can avail this service on 20th of January this year.