Idea Cellular shares decline over 8 percent after co falls into red in Q4

New Delhi: Shares of Idea Cellular on Monday tumbled over 8 percent after the company reported a consolidated loss of Rs325.6 crore in the three months to March 2017.

Idea_Logo_IBNLive

The stock tanked 8.28% to Rs84.65 on the BSE. On the NSE, it slumped 8.44% to Rs84.55. The results were announced on Saturday.

The company had posted a profit of Rs449.2 crore in the same period a year ago. For Idea, this is the second consecutive consolidated loss on a quarterly basis as the company viewed October-April as “particularly harsh” and a “period of telecom discontinuity”.

For the December 2016 quarter, Idea posted its first-ever consolidated net loss of Rs 383.87 crore compared to a net profit of Rs659.35 crore in the year-ago period.

Total revenues declined 13.7% to Rs 8,194.5 crore, from Rs 9,500.7 crore a year ago.


Updated Date: May 15, 2017 16:59 PM

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