Idea shares jump after Q1 profit beats estimates

Tags: Companies
Shares in Idea Cellular, India's third-biggest mobile phone operator by users and revenue, rise in early trade after its first-quarter profit rose 57 percent to 7.28 billion rupees ($120.8 million), beating consensus estimates.

Idea's profits mainly got a boost from a rebound in voice as well as data realisations without any pressure on volumes, traders say.

Analysts had expected Idea, part of India's Aditya Birla conglomerate and nearly a fifth-owned by Malaysia's Axiata, to earn 6.29 billion rupees, according to Thomson Reuters I/B/E/S.

Idea also said its capex guidance for the year remains at 35 billion rupees.

Idea shares were trading up 2.7 percent to 143.40 rupees as of 9:32 a.m.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Changes to FDI investment norms for housing look cosmetic

    The policy measures announced on Wednesday for facilitating greater participation of foreign direct investment (FDI) in the real estate sector do not

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Energy conservation through feedback

In households across the world, people use electric energy not ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture