Idea Cellular hits 52-week low post Q3 results
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Idea Cellular has dipped 5% to Rs 108, also its 52-week low on the BSE in otherwise firm market after the company reported a consolidated net profit of Rs 764 crore against an average analysts estimate of Rs 776 crore for the quarter ended December 2015 (Q3FY16).
The company had profit of Rs 767 crore in the same quarter year ago and Rs 809 crore in previous quarter.
Earnings before interest, taxes, depreciation and amortization (EBITDA) margin declined to 34.7% from 35.2% on sequential basis. It was 34.3% in December 2014 quarter.
During the quarter, the firm reported revenue of Rs 9,010 crore, a 12.4% increase year-on-year, but marginally lower than consensus estimates of Rs 9,016 crore. In the September quarter, the firm had reported revenue of Rs 8,689 crore.
The trading volumes on the counter nearly doubled with a combined 4.24 million shares changed hands on the BSE and NSE in first half-an-hour of trading.
The S&P BSE Sensex was up nearly 1% at 24,195.
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