January 27, 2014 / 11:41 AM / 4 years ago

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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