Idea Cellular shares jump after quarterly profit beats estimates

Jul 22 2014, 09:27 IST
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Analysts had expected Idea, part of India's Aditya Birla group and nearly a fifth-owned by Malaysia's Axiata AXIA.KL, to earn 6.29 billion rupees. (Reuters) Analysts had expected Idea, part of India's Aditya Birla group and nearly a fifth-owned by Malaysia's Axiata AXIA.KL, to earn 6.29 billion rupees. (Reuters)
SummaryIdea Cellular, India's third-biggest mobile phone operator by users and revenue, shares jumped 3.8 pct...

Idea Cellular, India's third-biggest mobile phone operator by users and revenue, shares jumped 3.8 percent at pre-open trading after its first-quarter profit rose 57 percent to 7.28 billion rupees ($120.8 million), beating consensus estimates.

Idea Cellular's profits mainly got a boost from a rebound in voice as well as data realisations without any pressure on volumes, traders say.

Analysts had expected Idea, part of India's Aditya Birla group and nearly a fifth-owned by Malaysia's Axiata AXIA.KL, to earn 6.29 billion rupees, according to Thomson Reuters I/B/E/S.

Idea Cellular Ltd also said its capex guidance for the year remains at 35 billion rupees.

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