January 24, 2018 / 7:21 AM / a year ago

India's Idea Cellular posts wider third-quarter loss

FILE PHOTO: A man speaks on his mobile phone as he sits in front of a shop displaying the Idea Cellular Ltd's logo on its shutter in Mumbai, India, April 28, 2014. REUTERS/Danish Siddiqui/File Photo

(Reuters) - 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. (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.

($1 = 63.6725 Indian rupees)

Reporting by Tanvi Mehta in Bengaluru; Editing by Himani Sarkar

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