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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.


PTI Last Updated at 31-07-2018 19:59:34 IST India

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.

The company's stock tumbled 6.07 percent to close at Rs 54.90 on the BSE. During the day, it slumped 6.92 percent to Rs 54.40.

On the NSE, shares of the company dived 6 percent to end at Rs 54.85.

The company's market valuation dropped Rs 1,546.93 crore to Rs 23,936.07 crore on the BSE.

In terms of equity volume, 44.98 lakh shares of the company were traded on the BSE and over 4 crore shares changed hands on the NSE during the day.

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 company had posted a loss of Rs 816 crore in comprehensive income in the same period a year ago, as per the company's BSE filing.

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.

The mobile services business plunged around 28 percent to Rs 5,745.3 crore from Rs 7,972.8 crore during the period under review.

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

COUNTRY :
India

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