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Idea Cellular down on weak Q2 results

October 26, 2010

TELECOMS INDIA BHARTI

Shares of Idea Cellular fell nearly 4 percent after the company’s quarterly net profit slipped to 1.80 billion rupees from 2.20 billion rupees a year ago.

Idea Cellular lagged market estimates as quarterly profit fell on lower call prices, but the firm said improving economic conditions and 3G services would boost revenue in future quarters.

Shares in the company closed 3 percent lower at 69.65 rupees.

Idea has managed to keep its investors happy, posting returns of over 20 percent for the year. Do you think it is the right time to invest in this counter?

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