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Idea shares down nearly 4% on disappointing Q2 show

Press Trust of India  |  New Delhi 

of today fell nearly 4 per cent after the company posted a loss of Rs 1,106.80 crore for the second quarter this fiscal.

The scrip ended at Rs 93.55, down 3.61 per cent on During the day, it tanked 5.92 per cent to Rs 91.30.

At NSE, the stock closed 3.76 per cent lower at Rs 93.35.

In terms of equity volume, 29.40 lakh of the company were traded on and over 2 crore changed hands at during the day.

today posted a loss of Rs 1,106.80 crore for the second quarter of the current fiscal, saying that the business was hit by pricing pressure and introduction in a "challenging" operating environment.

The company -- which is headed for a with Vodafone -- had reported a net profit of Rs 91.5 crore in the July-September quarter of the last fiscal.

"The operating environment for Indian mobile operators remained challenging with unrelenting pressure on pricing, introduction of Goods and Services at 18 per cent (compared to service at 15 per cent) and need for large investments to support the exploding data demand," Idea said in a statement.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 13 2017. 16:48 IST