Telecom operator Idea Cellular today posted over 91 per cent jump in consolidated net profit at Rs 589.77 crore for the last quarter of 2013-14 on the back of expansion in both voice minutes and mobile data volume. The company had posted a profit after tax of Rs 308.18 crore for the same period a year ago.Total consolidated revenue of the company during the January-March quarter rose by 16.2 per cent to Rs 7,043.82 crore, from Rs 6,061.38 crore in the year-ago period. On quarterly basis the company registered growth of 6.5 per cent in total revenue from Rs 6,613.06 crore posted in third quarter of 2013-14.
“The 6.5 per cent sequential quarterly revenue growth in Q4 FY14 is driven by sharp expansion of voice minutes at the rate of 8.6 per cent to 157.1 billion minutes and mobile data volume (2G+3G) growth at the rate of 31 per cent to 27.3 billion MB versus Q3 FY14, indicating strong consumer demand for Idea mobile telephony,” Idea Cellular said in a statement. On yearly basis, consolidated net profit jumped 94.65 per cent at Rs 1,967.82 crore for FY’14 compared to Rs 1,010.93 crore posted at the end of FY’13.
The consolidated revenue increased by over 18 per cent to Rs 26,518.91 crore for FY’14, from Rs 22,457.65 posted at the end of FY’13. The company clocked 1.77 crore net subscribers that were active in FY14 against 1.49 crore net subscribers in FY13. Idea Cellular total subscriber stood at 13.79 crore by the end of March 31 2014, the statement said. The average revenue of company from subscriber increased to Rs 173 from Rs 169 on quarterly basis.
The company witnessed decline of 2.8 per cent in average revenue per minute from consumers to 43.6 paise from 44.9 paise, however, the company improved ‘non voice revenue’ share to 16.5 per cent from 16.1 in Q3 FY’14 led by data (mobile internet) growth. Shares of Idea Cellular closed at Rs 140.75 apiece, up by 0.18 per cent, at BSE today.