The group which also has interests in fixed access and pay television reported earnings of 15.9 cents for the quarter. The stock closed at 9.40 rupees Friday.
Group revenues rose 7 percent to 16.3 billion rupees but expenses rose at a faster 17 percent to 9.8 billion rupees shrinking gross profits 4.9 percent to 6.5 billion rupees.
The company said depreciation charges were higher by 176 million rupees.
Its mobile revenues rose to 14.18 billion rupees from 13.3 billion rupees a year earlier, but were slightly down from the December quarter's 14.24 billion rupees. The firm had 9.3 million subscribers by end March 2014.