Rising OPEX eats into Idea’s profit

India’s Idea Cellular has reported net profits of INR2.39 billion (USD44.61 million) for the fourth quarter of its financial year, ended 31 March 2012, down year-on-year from INR2.75 billion but increasing from INR2.01 billion in the previous quarter, ended 31 December 2011. The drop in profit came despite revenue growth of 26.8% y-o-y to INR53.70 billion, as operating expenses rose by 27.0% over the same period, offsetting the impact of the greater income. The cellco’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the period under review were INR13.57 billion, up from INR10.75 billion a year earlier

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OVETEL Rising OPEX eats into Idea’s profit