Idea Cellular Hits 52-Week Low On Disappointing Q1

Posted By: Staff
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Shares of Idea Cellular nosedived over 6 per cent, hitting 52-week low, on the Bombay Stock Exchange after the telecom major reported a decline of 74.21 per cent in its consolidated net profit after taxes (PAT) at Rs 220.42 crore for the first quarter ended June 30, 2016.

Idea Cellular Hits 52-Week Low On Disappointing Q1
Idea Cellular: Quotes, News
BSE 103.45BSE Quote0.85 (0.82%)
NSE 103.50NSE Quote0.7 (0.68%)

The total revenue of Mumbai-based telecom operator rose by 7.2 per cent to Rs 9,552.45 crore during the quarter, from Rs 8,909.09 crore in the same period of previous fiscal.

Weighed down by Q1 earnings, shares of company declined as much as 6.35 per cent in intra-day and touched 52-week low to trade at Rs 96.55 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of company fell 5.24 per cent to Rs 97.70 apiece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 28,140.08, down 42.49 points, or 0.15 per cent, at 11:50 hours.

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