Idea Cellular has rallied 9% to 129, its highest level since February 2008 on NSE, on reporting a better-than-expected 30% year-on-year (yoy) jump in consolidated net profit at Rs 308 crore for the fourth quarter ended March 2013 (Q4) on back of growth in voice minutes and high data usage.
Analysts on average had expected the company to report a net profit of Rs 273 crore. The company had profit of Rs 240 crore in a year ago quarter.
Total revenues for the company during the January-March 2013 quarter rose by 13% at Rs 6,061 crore from Rs 5,370 crore in the corresponding period last fiscal.
Meanwhile, the company’s EBITDA margin has increased by 119bp qoq to 27.6% led by strong revenue growth along with qoq almost flat network operating charges.
“The high revenue growth is led by sharp expansion of voice minutes @8.5% to 143.40 billion, on sequential quarterly basis, indication consumer demand for mobile telephony is robust,” Idea Cellular said in a statement.
The board has recommended a maiden dividend of Re 0.30 (Thirty Paise) per equity share of Rs 10/- each for the financial year ended March 31, 2013.
The stock opened at Rs 123 and has seen a combined 4.8 million shares changing hands on the counter till early morning deals on NSE and BSE.
Analysts on average had expected the company to report a net profit of Rs 273 crore. The company had profit of Rs 240 crore in a year ago quarter.
Total revenues for the company during the January-March 2013 quarter rose by 13% at Rs 6,061 crore from Rs 5,370 crore in the corresponding period last fiscal.
Meanwhile, the company’s EBITDA margin has increased by 119bp qoq to 27.6% led by strong revenue growth along with qoq almost flat network operating charges.
“The high revenue growth is led by sharp expansion of voice minutes @8.5% to 143.40 billion, on sequential quarterly basis, indication consumer demand for mobile telephony is robust,” Idea Cellular said in a statement.
The board has recommended a maiden dividend of Re 0.30 (Thirty Paise) per equity share of Rs 10/- each for the financial year ended March 31, 2013.
The stock opened at Rs 123 and has seen a combined 4.8 million shares changing hands on the counter till early morning deals on NSE and BSE.
