1. Idea Cellular slips over 3% on posting 88% decline in consolidated Q2 net profit

Idea Cellular slips over 3% on posting 88% decline in consolidated Q2 net profit

Idea Cellular shares slipped as much as 3.83 per cent in morning trade on Tuesday after the company reported 88 per cent fall in its consolidated net profit after tax of Rs 91.46 crore for the quarter ended September 30, 2016 as compared to Rs 762.28 crore for the same quarter in the previous year.

By: | New Delhi | Updated: October 25, 2016 11:57 AM
idea cellular shares vodafone Idea Cellular shares slipped as much as 3.83 per cent in morning trade on Tuesday after the company reported 88 per cent fall in its consolidated net profit after tax of Rs 91.46 crore for the quarter ended September 30, 2016 as compared to Rs 762.28 crore for the same quarter in the previous year. (Reuters)

Idea Cellular shares slipped as much as 3.83 per cent in morning trade on Tuesday after the company reported 88 per cent fall in its consolidated net profit after tax of Rs 91.46 crore for the quarter ended September 30, 2016 as compared to Rs 762.28 crore for the same quarter in the previous year. However, total income of the company increased by 8.13 per cent at Rs 9,429.30 crore for quarter under review as compared to Rs 8,720.45 crore for the quarter ended September 30, 2015.

At 11.45 am, shares of Idea Cellular were trading 2.27 per cent down at Rs 75.25. The scrip opened the day at Rs 74.50 and had touched a high and low of Rs 76.95 and Rs 74.05, respectively, in trade so far. Benchmark BSE Sensex was down 92.16 points at 28,088.59.

On a standalone basis, Idea Cellular has registered net loss of Rs 42.79 crore for the quarter ended September 2016 compared to a net profit of Rs 739.59 crore for the same quarter in the previous year. However, total income increased by 7.02 per cent at Rs 9286.44 crore for quarter under review as compared to Rs 8677.37 crore in the same quarter last year.

The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high of Rs 149.05 on November 26, 2015 and a 52-week low of Rs 71.25 on October 18, 2016.

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