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Q1-10: Spice Communications Net Loss Soars To Rs. 349.1M; Revenues Rise 3%
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In its first quarter of fiscal 09, Idea Cellular owned Spice Communications has reported a 68.8% rise in net loss to Rs. 349.10 million from previous quarter.

Though Idea grasped management control over Spice on October 16, 2008, it was only in this quarter that Spice was expected to be able to benefit from the synchronising of their IT systems, delivery and call centres. Idea Cellular’s MD Sanjeev Aga said in the earnings call in April (transcript available here) that a dramatic improvement in margins could not be expected as the spend on network expansion in Karnataka, a large circle, would overtake the revenue increase.
medianama.com

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