Idea Cellular extends losses on huge volumes after weak Q2 results

Idea Cellular tumbled 8.31% to Rs 139 at 14:50 IST on BSE after consolidated net profit dropped 13.06% to Rs 809.26 crore on 1.24% decline in total revenue to Rs 8689.06 crore in Q2 September 2015 over Q1 June 2015.

The result was announced after market hours on Wednesday, 21 October 2015.

Meanwhile, the S&P BSE Sensex was up 160.34 points or 0.59% at 27,448.00.

Huge volumes were witnessed on the counter. On BSE, so far 10.31 lakh shares were traded in the counter as against average daily volume of 3.62 lakh shares in the past one quarter.

The stock hit a high of Rs 149.80 and a low of Rs 138 so far during the day. The stock had hit a 52-week low of Rs 137.25 on 29 September 2015. The stock had hit a record high of Rs 203.90 on 17 April 2015.

The stock had underperformed the market over the past one month till 21 October 2015, rising 4.01% compared with 4.18% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 16.84% as against Sensex's 3.17% decline.

The large-cap telecom company has equity capital of Rs 3599.61 crore. Face value per share is Rs 10.

Idea Cellular's consolidated net profit rose 7.06% to Rs 809.26 crore on 13.48% growth in total income to Rs 8722.72 crore in Q2 September 2015 over Q2 September 2014. Idea Cellular's earnings before interest, taxation, depreciation, and amortization (EBITDA) rose 22.7% to Rs 3057 crore in Q2 September 2015 over Q2 September 2014. EBITDA margin improved by 2.3% to 35.2% in Q2 September 2015 compared with Q2 September 2014.

Idea Cellular will launch its 4G LTE services in 10 service areas, covering 750 large and small towns by the first half of 2016.

Idea Cellular is one of the leading telecom operators in India. It is a part of the Aditya Birla Group.

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