Thursday, 25 April 2013

Idea Cellular surges as Jan-March profit beats f'cast - Reuters India

Debarjun Saha | 21:34 |
Brokers trade on their computer terminals at a stock brokerage firm in Mumbai July 23, 2008. REUTERS/Punit Paranjpe/Files

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MUMBAI | Fri Apr 26, 2013 9:27am IST

MUMBAI (Reuters) - Shares in Idea Cellular Ltd(IDEA.NS) rose as much as 10.4 percent in opening trade after Jan-March earnings beat estimates on Thursday, riding on strong customer additions and a court decision that removed some smaller competitors from the market.

Idea, part of the Aditya Birla conglomerate, said consolidated net profit rose to 3.1 billion rupeesin its fourth quarter through March from 2.4 billion a year ago.

Analysts had on average expected a net profit of 2.8 billion rupees, according to Thomson Reuters data.

(Reporting by Abhishek Vishnoi; Editing by Bijoy Koyitty)

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