Idea shares rise more than 10% on strong quarterly results

Shares in Idea Cellular jump as much as 10.7% after both revenue and profit exceed Street estimates
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First Published: Fri, Apr 26 2013. 10 29 AM IST
Consolidated revenue grew 8.65% sequentially to `6,061.4 crore on the back of an 8.46% jump in voice traffic carried on the company’s network. Photo: Pradeep Gaur/Mint
Consolidated revenue grew 8.65% sequentially to Rs.6,061.4 crore on the back of an 8.46% jump in voice traffic carried on the company’s network. Photo: Pradeep Gaur/Mint
Updated: Fri, Apr 26 2013. 04 14 PM IST
Mumbai: Shares in Idea Cellular Ltd jumped as much as 10.7% on Friday morning after the telecom operator reported robust quarterly earnings.
Both revenue and profit were significantly ahead of the Street expectations. Consolidated revenue grew 8.65% sequentially to Rs.6,061.4 crore on the back of an 8.46% jump in voice traffic carried on the company’s network. Data traffic increased by 13.8%, riding piggyback on an increase in the number of data subscribers.
Idea shares gained 5.20% to Rs.122.30 apiece on BSE on Friday, while the benchmark 30-share Sensex was down0.62% to 19,286.72 points.
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First Published: Fri, Apr 26 2013. 10 29 AM IST
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