Idea Cellular jumps 10% after Q4 earnings beats estimates

Mumbai: Shares in Idea Cellular 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.

[caption id="attachment_729823" align="alignleft" width="380"]

AFP[/caption]

Idea, part of the Aditya Birla conglomerate, said consolidated net profit rose to Rs 310 crore in its fourth quarter through March from 2.4 billion a year ago.

Analysts had on average expected a net profit of Rs 280 crore, according to Thomson Reuters data.

Reuters