Idea Cellular shares down nearly 6% as net profit declines by 74% in Q1FY17
Telecom operator, Idea Cellular shares on Tuesday plunged over 5% after on Monday, the company reported 74% decline in net profit on year-on-year basis for the quarter ended on June 30.
At 1409 hours the shares of the company were trading Rs 97.10 per piece, down 5.82% on BSE.
On Monday, Idea Cellular posted a net profit of Rs 220.4 crore for Q1FY17 as against Rs 854.8 crore for the quarter ended on June 30, 2015.
However, the total income increased from Rs 8909. crore in Q1FY16 to Rs 9552.4 crore in Q1FY17, a rise of 7.8%.
The earnings before interest tax, depreciation and amortisation (Ebitda) margins dropped marginally to 32.4% from 33.9% on y-o-y basis.
As per the company's financial report, the average data usage per customer increased from 599MB to 975MB in the last quarter.
As on June 30, 2016, over 1.8 million Idea customers are actively using its 4G services, the company said.