Comments
Shares of Idea Cellular today nosedived nearly 6 per cent as the company has posted a net loss of Rs 815.9 crore in the first quarter ended June 30.
Idea Cellular had posted a profit of Rs 217.1 crore in the same period a year ago.
The scrip lost 5.77 per cent to Rs 87.30 on the BSE. On the NSE, the stock tumbled 5.60 per cent to Rs 87.55.
The telecom company had yesterday posted a loss of Rs 815.9 crore in the first quarter ended June 30 due to sustained pressure from the disruptive tariffs of Reliance Jio.
This is the third straight quarter loss for the Aditya Birla group firm as it has not been able to recover from the pressure of aggressive tariff war triggered by Mukesh Ambani-led Reliance Jio Infocomm.
The company's total revenue also declined by about 14 per cent to Rs 8,181.7 crore during th quarter from Rs 9,552.4 crore in the corresponding period of 2016-17.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.