Idea Cellular Q4FY18 net loss widens to Rs 962.2 crore; blames Reliance Jio for weak earnings
A Bloomberg poll of analysts expected Idea Cellular 's consolidated net loss to be at Rs 1,459 crore, whereas the revenue at Rs 6,209 crore in Q4FY18.
Telecom service provider Idea Cellular missed analysts estimates for both bottom-line and top-line performance on consolidated basis during the fourth quarter ended March 2018 result. Idea Cellular consolidated net loss widened to Rs 962.2 crore in Q4FY18, compared to net loss of Rs 327.7 crore in the corresponding period of the previous year. However, the Q4FY18 net loss narrowed from loss of Rs 1,284.5 crore of the preceding quarter. Meantime, consolidated revenue came in at Rs 6,137.3 crore in Q4FY18, declining by 24.47% from Rs 8,126.1 crore in Q4FY17 and also down by 5.72% versus Rs 6,509.60 crore in Q3FY18.
A Bloomberg poll of analysts expected Idea Cellular consolidated net loss to be at Rs 1,459 crore, whereas the revenue at Rs 6,209 crore in Q4FY18.
On standalone basis, the company’s revenue came in at Rs 6,137.3 crore, while operating profit at Rs 1,447.3 crore and net loss of Rs 1,017.9 crore in Q4FY18.
Idea Cellular said, “The Indian mobile industry witnessed another year of hyper-competition as well as high regulatory headwinds. The super aggressive price plans including the deep discounted unlimited voice bundled data plans, offered by most of the incumbent operators to retain their existing subscribers against abysmally low priced plans offered by new 4G operator, exploded the voice and data volume growth multi-folds.”
For year end FY18, Idea Cellular gross revenue stood at Rs 28,278.9 crore vs Rs 35,575.7 crore in FY17. While the EBITDA during the fiscal was at Rs 6,047.6 crore down by 41% from Rs 10,243.6 crore in FY17. EBIDTA margin was decelerated to 21.4% in FY18 from 28.8% in FY17.
Consolidated total comprehensive income stands at a loss of Rs 4,139.9 crore vs loss of Rs 404 crore in FY17.
Idea Cellular net debt as on March 2017 stands at Rs 523.3 billion including a large component of debt from DoT under ‘Deferred Payment Obligation’ for spectrum acquired in auctions.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.