Bashed by a severe tariff war, telecom operator Idea Cellular on Saturday reported a consolidated loss of Rs 325.6 crore in the three-month period ended March 31, 2017. For the October-December 2016 quarter, Idea has posted its first-ever consolidated net loss of Rs 383.87 crore compared to a net profit of Rs 659.35 crore in the year-ago period. Total revenues of the company declined by 13.7% at Rs 8,194.5 crore from Rs 9,500.7 crore it registered a year ago in the corresponding quarter. Idea Cellular also posted its first-ever annual consolidated loss at Rs 404 crore for 2016-17 compared to a profit of Rs 2,174.2 crore in 2015-16. Annual income of Idea Cellular declined marginally to Rs 35,882.7 crore at the end of 2016-17 from Rs 36,162.5 crore it reported at the end of the previous fiscal.

Source: dna May 13, 2017 10:48 UTC