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BUZZ-India's Idea Cellular falls on Dec-qtr loss
February 13, 2017 / 4:09 AM / 10 months ago

BUZZ-India's Idea Cellular falls on Dec-qtr loss

** Idea Cellular’s shares fall as much as 5.6 pct in their biggest decline in a month; stock among top pct losers on the NSE index

** Telecommunications operator posts its first quarterly loss after a new rival forced carriers to cut prices in the highly competitive market

** Co reports consolidated Dec-qtr loss of 3.8 bln rupees ($57.35 mln), compared with profit of 6.6 bln rupees last year

** Indian mobile industry saw unprecedented disruption in Oct-Dec qtr, mainly due to free voice and mobile data promotions by a new entrant, Idea said on Saturday

** “Despite the short-term revenue pressure, it needs to remain aggressive on the 3G/4G rollout to maintain its competitive position,” Deutsche Bank analysts say ($1 = 66.9600 Indian rupees)

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