India's Idea Cellular cuts FY13 capex guidance to $557 mln
MUMBAI Jan 29 (Reuters) - 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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Nitin Gadkari, former president of the Bharatiya Janata Party and a member of the BJP’s manifesto committee, speaks to Reuters. Here are the edited excerpts. Full Article