Idea shares gain on margin improvement

Shares in IDEA Cellular gain 1 percent on Tuesday, despite what analysts call a mixed set of quarterly results, as investors are comforted by the improvements in margins.

Idea said consolidated net profit rose to 2.4 billion rupees for its fiscal second quarter ended in September from 1.06 billion rupees a year ago.

Also Read: Idea Cellular Q2 net profit up 2.5% at Rs 240 cr

Morgan Stanley says a 200 bps fall in quarter-on-quarter sales and marketing costs as a percentage of revenue has improved EBITDA margins by around 70 bps to 26.8 percent.

However, the investment bank says results were largely weaker than expected on the back of falling Q-o-Q revenue and weak traffic that weighed on EBITDA.

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