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Idea makes profit of ₹260.3cr on back of tower sale in Q1FY19

Idea Cellular has reported a net profit of Rs 260.3 crore in the first quarter of the financial year 2018–19 (Q4FY18), on the back of its tower sale to ATC. For context, Idea made a loss of Rs 930.6 crore last quarter. Revenue for the telco slumped to Rs 6,137.3 crore in Q4FY18, down from Rs 6,505 crore in Q3FY18. The numbers will likely go back down in Q2 since the tower sale was a one-time transaction. "During Q1FY19, Indian mobile industry continued to decline under pressure from heavily discounted unlimited voice and bundled data plans & subsidized 4G feature phone offerings from one of the operator[s], forcing commensurate response from other existing mobile operators to retain subscribers," the company said in a press release. Usage Trends Idea added 8.6 million subscribers overall in Q1FY19. ARPU stood at Rs 100 for this quarter, down…

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