The stock dipped as much as 6% to Rs 91 on the National Stock Exchange (NSE).
The telecom firm
posted its fourth straight quarterly loss on Monday, as it struggled with the aggressive pricing structure brought in by upstart rival Reliance Jio.
Net loss after tax came in at Rs 1107 crore for the quarter ended September 30, compared with a profit of Rs 91.50 crore a year earlier, Idea Cellular
said in a filing to BSE.
Consolidated revenue for the quarter stood at Rs 7,465.50 crore, compared with Rs 8,166.50 crore in June quarter and Rs 9,300.30 crore in the year-ago quarter.
The company also informed that its board has approved sale of its standalone tower business
held by 'not a material subsidiary' Idea Cellular
Infrastructure Services (ICISL) to ATC Telecom
Infrastructure, a subsidiary of American Tower Corporation. Vodafone India
is also going to sell its tower business
in India to ATC. The company will get Rs 3,850 crore post completion of deal.