Idea Cellular dips 6% post Q2 numbers, tower sale to ATC Telecom

Shares of Idea Cellular shed 6% on Monday after the telecom major reported a poor set of numbers for the September quarter, and announced sale of tower business to ATC Telecom along with Vodafone India. 

The stock dipped as much as 6% to Rs 91 on the National Stock Exchange (NSE). 

The telecom firm posted its fourth straight quarterly loss on Monday, as it struggled with the aggressive pricing structure brought in by upstart rival Reliance Jio.

Net loss after tax came in at Rs 1107 crore for the quarter ended September 30, compared with a profit of Rs 91.50 crore a year