Idea Cellular dropped 0.86% to Rs 91.85 at 11:05 IST on BSE after the company reported consolidated net loss of Rs 814.90 crore in Q1 June 2017 compared with net profit of Rs 220.40 crore in Q1 June 2016.
The result was announced after market hours yesterday, 27 July 2017.Meanwhile, the S&P Sensex was down 155.54 points or 0.48% at 32,227.76.
On the BSE, 10.11 lakh shares were traded on the counter so far as against the average daily volumes of 16.76 lakh shares in the past one quarter. The stock had hit a high of Rs 92.45 and a low of Rs 87.30 so far during the day.
The stock had hit a 52-week high of Rs 123.75 on 20 March 2017 and a 52-week low of Rs 66 on 9 November 2016.
The stock has dropped 6.08% in three sessions to its current price from a close of Rs 97.80 on 25 July 2017.
The stock had outperformed the market over the past one month till 27 July 2017, gaining 14.17% compared with 4.6% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 8.55% as against Sensex's 7.84% rise. The scrip had, however, underperformed the market in past one year, falling 12.88% as against Sensex's 15.55% rise.
The large-cap company has equity capital of Rs 3606.41 crore. Face value per share is Rs 10.
Idea Cellular's total income fell 14.34% to Rs 8181.70 crore in Q1 June 2017 over Q1 June 2016. EBITDA (earnings before interest, taxes, depreciation and amortization) margin fell to 25.6% in Q1 June 2017 from 29.1% in Q1 June 2016.
The financial stress in the mobile sector remains at its peak, post the introduction of aggressive unlimited bundled plans by new entrant forcing other operators to follow. Resultantly, all 'Telecom Service Providers' are reporting steep decline in revenues, profitability and cash flows and all but one Indian wireless operator quarterly results are likely to show significant financial losses, company added.
Idea Cellular is one of the leading telecom operators in India.
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