Idea Cellular hits 52-week low after weak Q1 results

Idea Cellular lost 3.78% to Rs 99.20 at 9:18 IST on BSE after consolidated net profit slumped 74.21% to Rs 220.41 crore on 7.22% rise in total income to Rs 9552.44 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 8 August 2016.

Meanwhile, the S&P BSE Sensex was down 5.24 points or 0.02% at 28,177.33.

On BSE, so far 2.96 lakh shares were traded in the counter as against average daily volume of 10.99 lakh shares in the past one quarter. The stock hit a low of Rs 96.55 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 99.50 so far during the day. The stock had hit a 52-week high of Rs 170.75 on 7 August 2015. The stock had underperformed the market over the past one month till 8 August 2016, advancing 1.18% compared with 3.89% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 9.2% as against Sensex's 11.71% rise.

The large-cap company has equity capital of Rs 3600.92 crore. Face value per share is Rs 10.

Idea Cellular said it remains confident to tap all emerging opportunities in mobile voice and broadband business.

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

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