Idea Cellular Q1 Net Profit Rises Over 57%

Idea Cellular rose 4.9% in trade today, a day after the telecom major reported a jump of 57% in its net profit for the quarter ended June 30.

Idea said its net profit increased to Rs 728.2 crore for the April-June quarter of FY2014-15 from Rs 462.7 crore a year earlier. Analysts had expected the net profit to be about Rs 629 crore. Revenue jumped 16% to Rs 7,561.0 crore.

The Aditya Birla Group company expanded its operating margin to 33.2% from 31.7% in the previous quarter.

The telecom industry has benefited from reduced competition during the past six quarters.