NEW DELHI: Shares of Idea Cellular today tumbled 6 per cent, wiping out Rs 1,547 crore from its market valuation, after the company's June quarter earnings failed to enthuse investors.
The company's stock tumbled 6.07 per cent to close at Rs 54.90 on the BSE. During the day, it slumped 6.92 per cent to Rs 54.40. On the NSE, shares of the company dived 6 per cent to end at Rs 54.85. The company's market valuation dropped Rs 1,546.93 crore to Rs 23,936.07 crore on the BSE.
In terms of equity volume, 44.98 lakh shares of the company were traded on the BSE and over 4 crore shares changed hands on the NSE during the day.
In its last financial result before merger with Vodafone India, Aditya Birla Group firm Idea Cellular yesterday reported total comprehensive income of Rs 263.5 crore in the June quarter, mainly on account of one time gain from sale of mobile towers.
The company had posted a loss of Rs 816 crore in comprehensive income in the same period a year ago, as per the company's BSE filing.
The consolidated revenue from operations of Idea dipped by around 28 per cent to Rs 5,889.2 crore during the first quarter of the current fiscal compared to Rs 8,166.5 crore in the same period last fiscal.
The mobile services business plunged around 28 per cent to Rs 5,745.3 crore from Rs 7,972.8 crore during the period under review.