Shares of Idea Cellular fell by nearly 3 percent after the company logged a consolidated net loss of Rs 383.87 crore for the December 2016 quarter. The stock went down by 2.67 percent to end at Rs 107.40 on BSE. During the day, it slipped 7.56 percent to Rs 102. At NSE, shares of the company dipped 2.89 percent to close at Rs 107.25. Also Read - Reliance Jio tops 4G download speed in January while Vodafone leads in upload speed: TRAIAlso Read - Vodafone might exit Indian market over high taxes and recent court ruling
Following the decline in the stock price, the company’s market valuation fell by Rs 1,061.86 crore to Rs 38,682.14 crore. On the volume front, 21.42 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.
Telecom operator Idea Cellular on Saturday logged a consolidated net loss of Rs 383.87 crore for the December 2016 quarter compared to a net profit of Rs 659.35 crore in the year-ago period, hurt by newcomer Reliance Jio’s free voice and data promotions. Total income also has decreased to Rs 8,706.36 crore for the quarter, from Rs 9,032.43 crore in the same period in the previous year, as per a BSE filing. ALSO READ: Idea Cellular posts loss of Rs 478 crore in Q3 2016
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