The IUC cut has eaten into the revenue of Idea Cellular and Bharti Airtel even as it boosted Reliance Jio profits in the December quarter. Idea Cellular, which is set to merge with the Indian unit of Vodafone Group Plc, reported a loss of Rs385.6 crore in the year-earlier quarter. The Telecom Regulatory Authority of India (Trai) cut IUC to 6 paise a minute from 14 paise, effective 1 October. “Clearly, the IUC cut has hit the company. On Wednesday, Idea Cellular shares fell 5.38%, or Rs5.35, to Rs94.05 while the benchmark Sensex ended the day flat at 36,161.64 points.

Source: Mint January 24, 2018 07:30 UTC