Idea Cellular turns mix post Q1 results
Idea ended June with 189 million users, compared with 189.5 million it had at the end of March.
By ETMarkets.com | Updated:
NEW DELHI: Shares of telecom operator Idea Cellular slipped over 5 per cent in early trade on Friday to later recover the losses, after the company on Thursday posted a loss of Rs 815.9 crore in the first quarter ended June 30.
The company had reported a net profit of Rs 217.1 crore in the corresponding quarter last year.
Idea Cellular also missed estimates in the fiscal first quarter while posting its third net loss in succession, though pressure on voice and data prices triggered by the entry of Reliance Jio Infocomm was offset to a large extent by strong growth in usage.
Idea ended June with 189 million users, compared with 189.5 million it had at the end of March.
The scrip wiped off some of its initial losses and was trading 2.50 per cent down at Rs 90.25 around 9.45 am (IST). However, the stock eventually ended the day 3.13 per cent higher at Rs 95.55.
Revenue for India’s No. 3 mobile phone operator fell nearly 14 per cent on year to Rs 8,166.5 crore, but rose a tad from the Rs 8,126.1 crore it posted in the fiscal fourth quarter, as the fall in data and voice rates was to an extent offset by a jump in the number of calls and usage of data.
Shares of the company had hit their fresh 52-week high of Rs 123.75 on March 20, 2017 and 52-week low of Rs 66 on November 9, 2016.
The company had reported a net profit of Rs 217.1 crore in the corresponding quarter last year.
Idea Cellular also missed estimates in the fiscal first quarter while posting its third net loss in succession, though pressure on voice and data prices triggered by the entry of Reliance Jio Infocomm was offset to a large extent by strong growth in usage.
Idea ended June with 189 million users, compared with 189.5 million it had at the end of March.
The scrip wiped off some of its initial losses and was trading 2.50 per cent down at Rs 90.25 around 9.45 am (IST). However, the stock eventually ended the day 3.13 per cent higher at Rs 95.55.
Revenue for India’s No. 3 mobile phone operator fell nearly 14 per cent on year to Rs 8,166.5 crore, but rose a tad from the Rs 8,126.1 crore it posted in the fiscal fourth quarter, as the fall in data and voice rates was to an extent offset by a jump in the number of calls and usage of data.
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Shares of the company had hit their fresh 52-week high of Rs 123.75 on March 20, 2017 and 52-week low of Rs 66 on November 9, 2016.
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