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E-mail ID will not be published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.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • To die with dignity is an inalienable part of right to life

    The death of Aruna Shanbaug this week has again brought the long-standing euthanasia debate to life.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

China looks to India for balance

Almost a third of the total world population lives in ...

Zehra Naqvi

Love and its stories

People must have bread. They can live without stories. No, Hameeda, ...

Dharmendra Khandal

Tiger in urban landscape

Ranthambhore is in a no-win situation. Just a few days ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture