Idea Cellular Ltd is currently trading at Rs 94.2, down by Rs 2.85 or 2.94% from its previous close of Rs 97.05 on the BSE after the company has reported the net loss of Rs 1,108 crore against a net profit of Rs 91.5 crore. The company’s consolidated revenue for the quarter came in at Rs 7,460.5 crore, registering 19.7% YoY decline. This was primarily driven by 20% YoY decline in revenues from mobility business.
EBITDA for the quarter fell by 24.5% yoy to Rs 3610.9 crore with a corresponding margin contraction of 307 bps. EBITDA margin for the quarter stood at 48.4%.
Vodafone India and Idea Cellular Ltd have separately agreed to sell their respective standalone tower businesses in India to ATC Telecom Infrastructure Private Limited (ATC TIPL, formerly Viom) for an aggregate enterprise value of Rs 78.5 billion ($1.2 billion).
The standalone tower businesses of Vodafone India and Idea are pan-India passive telecommunication infrastructure businesses, comprising a combined portfolio of approximately 20,000 towers with a combined tenancy ratio of 1.65x as at June 30, 2017.
The scrip opened at Rs 99.9 and has touched a high and low of Rs 99.9 and Rs 91.3 respectively.
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