Idea shares fall after Q3 earnings disappoint

Wed Jan 30, 2013 1:49pm IST

Sun rises over the telecommunication towers in New Delhi December 22, 2007. REUTERS/B Mathur/Files

Sun rises over the telecommunication towers in New Delhi December 22, 2007.

Credit: Reuters/B Mathur/Files

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Reuters Market Eye - Shares in Idea Cellular Ltd(IDEA.NS) shares fall as much as 2.6 percent after the mobile phone carrier posted weaker-than-expected October-December net profit.

Morgan Stanley says it could lower EBITDA estimates for Idea in fiscal 2013 by around 4 percent.

The investment bank adds Bharti Airtel Ltd (BRTI.NS) could also miss EBITDA estimates for the October-December quarter.

Shares in Idea Cellular were down 1.32 percent at 1:49 p.m., while Bharti Airtel shares fell 1.6 percent.

(Reporting by Manoj Dharra)

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