Idea Cellular Q2 net profit doubles

Total revenue of the company increased by 15 per cent to Rs 5,314 crore during the reported quarter,compared to Rs 4,619.92 crore in the corresponding period last fiscal.

8220;With the increasing proportion of rural subscribers,the seasonal slowdown in the second quarter has become more pronounced resulting in sharp contraction in the 8216;Voice Minutes of Use8217; by 4 per cent,to 125.6 billion minutes compared to 130.9 billion minutes in Q1,FY13,8221; Idea said in a statement.

8220;Company8217;s 3G investment plans are on track and high speed broadband services are now available in 3,500 towns census and non-census in 20 service areas including roaming arrangements,8221; the statement said.

The company said that its overall wireless telecom business outlook for the quarter 8220;remains muted8221; due to headwinds emerging from uncertain regulatory interventions,weak seasonal demand and continued grim battle for market supremacy.

8220;The capex of Rs 972 crore,excluding forex fluctuation,for the quarter has been funded entirely out of cash profit of Rs Rs 1,231 crore,8221; the statement said.

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