Idea Cellular rose 3.15% to Rs 144.15 at 9:17 IST on BSE after consolidated net profit surged 57.37% to Rs 728.20 crore on 15.63% growth in total revenue to Rs 7560.99 crore in Q1 June 2014 over Q1 June 2013.
The Q1 result was announced after market hours on Monday, 21 July 2014.
Meanwhile, the S&P BSE Sensex was up 88.13 points or 0.34% at 25,803.30.
On BSE, so far 5.63 lakh shares were traded in the counter as against average daily volume of 4.08 lakh shares in the past two weeks.
The stock hit a high of Rs 146.60 and a low of Rs 143.80 so far during the day.
Idea Cellular's consolidated net profit rose 23.47% to Rs 728.20 crore on 7.34% growth in total revenue to Rs 7560.99 crore in Q1 June 2014 over Q4 March 2014.
Idea Cellular's EBITDA margin improved to 33.2% in Q1 June 2014 from 31.8% in Q1 June 2013 and from 31.7% in Q4 March 2014.
Idea Cellular said that the strong consumer demand & brand affinity, expanding network footprint & spectrum portfolio and steady cash flows from operations reaffirms the company's ability to deliver consistent, competitive, responsible and profitable growth. The company is well geared to meet all volatile, uncertain, complex and ambiguous developments and remain on course of its mission to improve its market standing both in Mobile voice and data business, Idea Cellular said in a statement.
With additional capital infusion of Rs 3000 crore from the qualified institutional placement of equity shares in June 2014 and cash profit of Rs 2023 crore in Q1 June 2014, the company has reduced its net debt by Rs 5208.70 crore. The net debt to annualized EBITDA ratio now stands at 1.54, providing the company sufficient headroom to participate in the forthcoming spectrum auction, Idea Cellular said.
Idea Cellular is the third largest wireless operator in India. It is part of Aditya Birla Group.
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