Idea Cellular has announced its financial results for quarter ended December 2011. The operator?s total income registered a growth of 27.17 per cent from Rs 39.56 billion for the quarter ended December 2010 to Rs 50.31 billion during the quarter ended December 2011. However, Idea?s net profit declined by 17.28 per cent from Rs 2.43 billion to Rs 2.01 billion during the period under review.
The dip in profits has been attributed to the high depreciation and soaring financing costs with respect to 3G investments.
?The business outlook remains a paradox, a combination of tailwinds with strong customer traction and headwinds emerging from uncertain regulatory interventions and the macroeconomic environment,? reported Idea in its media release.
The company?s 3G investment plans are on track and its high-speed broadband services are now available across 2,300 towns in 20 service areas (including through roaming arrangements) across India, the release added.
