New Delhi, Nov 13 (PTI) Shares of Idea Cellular today

fell nearly 4 per cent after the company posted a loss of Rs

1,106.80 crore for the second quarter this fiscal.

The scrip ended at Rs 93.55, down 3.61 per cent on BSE.

During the day, it tanked 5.92 per cent to Rs 91.30.

At NSE, the stock closed 3.76 per cent lower at Rs 93.35.

In terms of equity volume, 29.40 lakh shares of the

company were traded on BSE and over 2 crore shares changed

hands at NSE during the day.

Idea Cellular today posted a loss of Rs 1,106.80 crore

for the second quarter of the current fiscal, saying that the

business was hit by pricing pressure and GST introduction in a

“challenging” operating environment.

The company — which is headed for a merger with Vodafone

India — had reported a net profit of Rs 91.5 crore in the

July-September quarter of the last fiscal.

“The operating environment for Indian mobile operators

remained challenging with unrelenting pressure on pricing,

introduction of Goods and Services Tax at 18 per cent

(compared to service tax at 15 per cent) and need for large

investments to support the exploding data demand,” Idea said

in a statement.

This is published unedited from the PTI feed.