Jio effect? Idea Cellular posts net loss of Rs 1,285 crore in Q3

Telecom major Idea Cellular Ltd posted a fifth consecutive quarterly net loss on Wednesday, hurt by a sharp cut in interconnection fees that operators pay each other.

Its net loss widened to Rs 1,285 crore ($202 million) in the third quarter ended December 31, versus a loss of Rs 384 crore a year earlier, Idea Cellular said on Wednesday. 

Eleven analysts, on average, expected the company to post a loss of Rs 12.80 billion, 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 Rs 65.10 billion.

($1 = Rs 63.6725)