Telecom giant Idea Cellular reported a consolidates loss of Rs 325.6 crore for the March quarter. The company had a dismal financial results considering the fact that it had posted a profit of Rs 449.2 crore in the same period a year ago
Shares of today tumbled over 8 per cent after the company reported a consolidated loss of Rs 325.6 crore in the three months to March 2017. The stock tanked 8.28 per cent to Rs 84.65 on the BSE. t the NSE, it slumped 8.44 per cent to Rs 84.55.For Idea, this is the second consecutive consolidated loss on a quarterly basis as the company viewed October-April as "particularly harsh" and a "period of telecomdiscontinuity".
For the December 2016 quarter, Idea posted its first-ever consolidated net loss of Rs 383.87 crore compared to a net profit of Rs 659.35 crore in the year-ago period. Total revenues declined 13.7 per cent to Rs 8,194.5 crore, from Rs 9,500.7 crore a year ago.