Idea Cellular Ltd, India`s No. 3 telecoms firm, reported a third straight quarterly loss on Thursday, reeling in the wake of a price war wrought by new entrant to the sector, Reliance Jio.
It made a net loss of 8.15 billion rupees ($127.13 million)for the three months to June 30, compared with a profit of 2.20 billion a year earlier. Income fell by about 14 percent to 81.82 billion rupees.
Analysts on average estimated a loss of 6.71 billion rupees, Thomson Reuters I/B/E/S data showed.
Reliance Industries, led by India`s wealthiest man Mukesh Ambani, entered India`s telecoms industry last year, spending more than $30 billion on Jio and upending the sector with cheap smartphones and data plans.
($1 = 64.1100 Indian rupees)
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