MUMBAI Jan 29 Indian mobile phone carrier Idea Cellular Ltd expects capital expenditure of 30 billion rupees ($557 million) for the fiscal year ending in March, finance chief Akshaya Moondra said, 5 billion rupees lower than its earlier guidance.
Idea expects headline voice tariff to remain unchanged as of now, even though call prices need to be balanced with costs, Managing Director Himanshu Kapania told reporters on Tuesday.
Both executives were speaking at a news conference after India's No. 3 mobile operator by revenue reported a smaller-than-expected 14 percent rise in quarterly profit. ($1 = 53.9050 Indian rupees) (Reporting by Aradhana Aravindan; editing by Malini Menon)
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For years Indian businesses have lobbied for a nationwide sales tax, hoping to replace a chaotic structure that inflates costs and halts their trucks at state borders for duty payments, and to unify the country into one of the world's largest single markets. But after political compromises that finally got a goods and services tax (GST) bill before parliament, they have turned wary. Full Article