Vodafone Idea

Idea Cellular had hit a new 52-week low, reacting to the poor Q3FY16 numbers. The company posted a 6% (QoQ) decline in consolidated net profit at Rs.764 crore though revenue rose 4% at Rs.9010 crore. The bottomline was hit on account of lower other income and higher interest outgo.

Its Interest outgo was at Rs.866 crore, up 19% as its debt rose by a huge 70% to Rs.37,690 crore and this was on account of additional charges related to new spectrum launch. Other income was down 9% at Rs.31 crore. Depreciation was up over 5%.

The company’s EBITDA was up over 2% at Rs.3128 crorw while margins slipped by a big 50 bps to 34.7%.  Volumes were better, showing a growth of 5%. Voice minutes volume was up to 199.2 billion minutes v/s 189.5 billion minutes in Q2. Mobile data volume (2G+3G+4G) increased by 76% to 81 billion MB in Q3.

Idea’s average revenue per user increased to Rs 176 from Rs 175 and average minutes of use per user to 393 from 386 (QoQ). Average realization per minute declined to 44.80 paise from 45.30 paise and in case of voice segment.