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Idea Cellular shares slump over 7% intraday as Q3 profit dips

However, at 1425 hours, the shares of Idea Cellular were trading down 6.72% or Rs 7.65 lower at Rs 106.25.

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Idea Cellular had on Thursday announced a marginal decline in its consolidated net profit at Rs 764.2 crore for the quarter ended December 2015 due to decline in voice and mobile data rates.
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Shares of telecom major Idea Cellular on Friday slumped by over 7% to hit its one-year low level on the bourses after the company announced a decline in consolidated net profit for the quarter ended December 2015.

The stock plunged by 7.28% to hit its one-year low level of Rs 105.60 on BSE. However, at 1256 hours, the shares of Idea Cellular were trading slightly down from its earlier level at 6.01% or Rs 6.85 at Rs 107.05 per scrip intraday on the BSE.   

At 1425 hours, the shares of Idea Cellular were trading down 6.72% or Rs 7.65 lower at Rs 106.25.

ALSO READ: Idea Cellular Q3 profit dips marginally to Rs 764.2 crore.

At NSE, the shares of the company tanked 7.41% to Rs 105.50 -- its 52-week low.

Idea Cellular had on Thursday announced a marginal decline in its consolidated net profit at Rs 764.2 crore for the quarter ended December 2015 due to decline in voice and mobile data rates. The company had posted a net profit of Rs 767.06 crore for the same period a year ago. 

"Despite the healthy subscriber growth, we have witnessed intense rate pressure. Our voice rate declined by 10.6% and mobile data rates by 17.2% during the Q3 FY16," Idea Managing Director Himanshu Kapania said.

The net sales increased by 12.37% to Rs 9,009.69 crore during the reported quarter from Rs 8,017.47 crore. 

 

 

         

 

 

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