Idea shares tumble 6 percent, market valuation falls by Rs 1,547 cr
Shares of Idea Cellular today tumbled 6 percent, wiping out Rs 1,547 crore from its market valuation after the company's June quarter earnings failed to enthuse investors.
In its last financial result before merger with Vodafone India, Aditya Birla Group firm Idea Cellular yesterday reported total comprehensive income of Rs 263.5 crore in the June quarter, mainly on account of one time gain from sale of mobile towers.
The consolidated revenue from operations of Idea dipped by around 28 percent to Rs 5,889.2 crore during the first quarter of the current fiscal compared to Rs 8,166.5 crore in the same period last fiscal.
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