India's Idea Cellular Q2 net more than doubles, meets estimate

MUMBAI Mon Oct 22, 2012 7:38am EDT

MUMBAI Oct 22 (Reuters) - Indian mobile phone carrier Idea Cellular on Monday reported its quarterly profit more than doubled, as expected, on the back of higher revenue.

Idea, a part of the Aditya Birla conglomerate, said consolidated net profit rose to 2.4 billion rupees ($44.9 million) for the fiscal second quarter ended September from 1.06 billion rupees a year earlier.

Analysts on average had expected the company to report a net profit of 2.41 billion rupees, according to ThomsonReuters I/B/E/S.

Idea, in which Malaysia's Axiata owns about a fifth, ranks fourth by subscribers. It had about 116 million mobile customers as of August. ($1= 53.50 rupees) (Reporting by Aradhana Aravindan; Editing by Subhranshu Sahu)