India's Idea Cellular Q3 net profit doubles, but misses estimates
NEW DELHI/MUMBAI Jan 27 (Reuters) - Idea Cellular Ltd's quarterly net profit doubled as it benefited from reduced competition and an increase in voice call prices in the world's second-biggest mobile phone market by customers, but missed analysts' estimates.
India's No.3 cellular carrier by revenue and customers reported consolidated net profit of 4.68 billion rupees ($75 million) for its fiscal third quarter ended December, compared with 2.29 billion rupees a year earlier.
Analysts on average had expected Idea, part of the Aditya Birla conglomerate, to report a consolidated net profit of 5.13 billion rupees, according to data compiled by Thomson Reuters StarMine.
($1 = 62.4900 rupees) (Reporting by Devidutta Tripathy and Prashant Mehra; Editing by Anand Basu)
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