Indian mobile carrier Idea Cellular Ltd posted a fifth consecutive quarterly net loss on Wednesday, hurt by a sharp cut in interconnection fees that telecom operators pay each other.
Its net loss widened to 12.85 billion Indian rupees ($202 million) in the third quarter ended Dec. 31, versus a loss of 3.84 billion rupees a year earlier, Idea Cellular said on Wednesday. (http://bit.ly/2n5AACI)
Eleven analysts, on average, expected the company to post a loss of 12.80 billion rupees, Thomson Reuters data shows.
Revenue from operations of the company, which is set to merge with Vodafone Group Plc's Indian unit, fell about 25 percent to 65.10 billion rupees.