Shares of Idea Cellular today tumbled 5.5 percent after the company posted deeper losses of Rs 1,284.5 crore for the quarter ended on December 31, 2017.
The stock dropped 5.38 percent to end at Rs 94.05 on BSE. During the day, it tanked 6.48 percent to Rs 92.95.
On NSE, shares of the company plunged 5.48 percent to close at Rs 93.90.
The company’s market valuation fell by Rs 1,929.47 crore to Rs 33,928.53 crore.
In terms of equity volume, 28.24 lakh shares of the company were traded on BSE and over 3 crore shares changed hands on NSE during the day.
Idea Cellular today posted deeper losses of Rs 1,284.5 crore for the quarter ended on December 31, 2017, and said a “sharp” cut in call connect charges and “unrelenting” rate pressure hit its earnings.
India’s third largest telecom operator had registered a loss of Rs 383.9 crore in the year-ago period, according to its regulatory filing.
The revenue from operations came in at Rs 6,509.6 crore for the quarter ended December 2017, almost 25 percent lower than Rs 8,662.7 crore in the same period previous year. PTI
This is published unedited from the PTI feed.