Idea Cellular dips post Q3 results
The stock was down over 8% in past two trading sessions on the Bombay Stock Exchange.
Idea Cellular has dipped 4% to Rs 140, extending its previous day’s 5% fall, after reporting a lower-than-expected consolidated net profit at Rs 468 crore for the third quarter ended December 31, 2013 (Q3) against an average analyst estimate of Rs 504 crore. The company had profit of Rs 448 crore in previous quarter.
The company’s EBITDA or operating profit margin slipped marginally by around 10bp quarter-on-quarter (qoq) to 31.1%, due to increase in marketing and subscriber acquisition costs.
Total operational revenues grew 4.6% qoq at Rs 6,613 crore, Idea Cellular said in a media release.
The stock opened at Rs 148 and touched a low of Rs 139 on the BSE. A combined 2.83 million shares changed hands on the counter so far on the BSE and NSE.
The company’s EBITDA or operating profit margin slipped marginally by around 10bp quarter-on-quarter (qoq) to 31.1%, due to increase in marketing and subscriber acquisition costs.
Total operational revenues grew 4.6% qoq at Rs 6,613 crore, Idea Cellular said in a media release.
The stock opened at Rs 148 and touched a low of Rs 139 on the BSE. A combined 2.83 million shares changed hands on the counter so far on the BSE and NSE.
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First Published: Jan 28 2014 | 9:56 AM IST