Idea Cellular Slips 7% On Posting Big Loss Of Rs 385 cr In Q3 - Dollar Advisory & Financial Services

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Monday 13 February 2017

Idea Cellular Slips 7% On Posting Big Loss Of Rs 385 cr In Q3

Idea Cellular share plunged 7.5 percent in the early trade Monday as it has posted a net loss in the quarter ended December 2016. 

The telecom operator has posted a consolidated loss of Rs 385.6 crore in the quarter ended December 2016 against profit of Rs 90.04 crore in previous quarter, impacted by demonetisation and Reliance Jio's free offerings that have been extended till March 31, 2017.

On standalone basis, it has reported a loss of Rs 478.9 crore in Q3FY17, for the first time in 40 quarters since its IPO in 2007, as last two years of high investments increased depreciation & amortisation charges to Rs 1,965.3 crore and finance cost to Rs 923.2 crore.

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