Q1 to Rs 9,286.4 crore in Q2.
As competitive intensity declines and overcapacity phase comes to an inevitable end, visibility of spectrum quantum and pricing improves, Idea expects to consolidate its position in the telecom voice and data market, Kapania said.
Commenting on the QIP issue, Kapania said, "We have taken shareholders permission for QIP, but may not go ahead with the same. We have surplus funds of Rs 2,800 crore, which may be used to renew licenses of 9 circles, slated between December 2015 and April 2016."
He said there is no plan to acquire any assets as Idea has national operations and has enough spectrum.
Bigger Indian phone carriers such as Bharti Airtel Ltd , Vodafone Group Plc's local unit and Idea Cellular have cut discounts and raised some call prices this year after several of their smaller rivals were forced to exit or scale back by a court order on a massive licensing scandal.