Idea shares fall after Q3 earnings disappoint

Shares in Idea Cellular Ltd shares fall as much as 2.6% after the mobile phone carrier posted weaker-than-expected October-December net profit.

Morgan Stanley says it could lower EBITDA estimates for Idea in fiscal 2013 by around 4%.

The investment bank adds Bharti Airtel Ltd could also miss EBITDA estimates for the October-December quarter.

Shares in Idea Cellular fall 0.5%, while Bharti Airtel shares fall 0.6%.