Idea Cellular stock gains over 5% post earnings

Shares of telecom major Idea Cellular today rose over 5 per cent in morning trade after the company reported a 57 per cent jump in net profit for the June quarter.

Idea Cellular’s stock jumped 5.29 per cent to Rs 147.15 on the BSE. On the NSE, it gained 5.33 per cent to Rs 147.20. Idea Cellular had yesterday posted a 57 per cent jump in net profit at Rs 728.2 crore for the first quarter ended June 30, 2014, on increased demand in mobility business mainly mobile Internet services.

The company had posted a profit after tax of Rs 462.71 crore in the same period a year ago.

It posted about 16 per cent jump in its consolidated revenue at Rs 7,484.8 crore during the quarter, up from Rs 6,470.93 crore a year ago.