Idea Cellular hits 52-week low after weak Q3 earnings

Idea Cellular lost 3.91% to Rs 109.45 at 9:17 IST on BSE after consolidated net profit fell 0.37% to Rs 764.21 crore on 10.92% rise in total income to Rs 9040.48 crore in Q3 December 2015 over Q3 December 2014.

The result was announced after market hours yesterday, 21 January 2016.

Meanwhile, the S&P BSE Sensex was up 197.33 points or 0.82% at 24,159.54.

On BSE, so far 98,000 shares were traded in the counter as against average daily volume of 3.44 lakh shares in the past two weeks. The stock hit a low of Rs 108.90 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 115 so far during the day. The stock had hit a record high of Rs 203.90 on 17 April 2015.

The large-cap company has equity capital of Rs 3600.36 crore. Face value per share is Rs 10.

The net profit was dragged down by sharp fall in other income to Rs 30.79 crore in Q3 December 2015 from Rs 132.62 crore in Q3 December 2014. The EBITDA (earnings before interest, taxation, depreciation and amortization) margin improved 0.4% on year-on-year basis at 34.7% in Q3 December 2015.

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

Powered by Capital Market - Live News