Shares of Adani Transmission Ltd today fell 5 per cent after the company reported nearly 39 per cent drop in consolidated net profit for the quarter ended September 30.

The scrip dropped 4.55 per cent to Rs 41.95 on the BSE. On the NSE, the stock plunged 4.99 per cent to Rs 41.85.

Adani Transmission Ltd had yesterday reported a 38.63 per cent drop in consolidated net profit at Rs 99.54 crore for the July-September period, the second quarter of the current fiscal.

The company’s net profit after taxes (PAT), minority interest and share of profit of associates stood at Rs 162.20 crore in the September quarter of 2015-16, Adani Transmission Ltd said in a BSE filing.

The comparable consolidated PAT for the second quarter of this fiscal was Rs 66 crore compared with Rs 65 crore in the first quarter (April-June 2017) (excluding effect of PAT of Rs 91.39 crore on one time income of Rs 116.18 crore in Q1 FY17 and adjustment of deferred tax liability of Rs 33.84 crore), the company said in a press release.

According to a statement, the company’s total income from operations (net) increased to Rs 682.70 crore in the quarter under review from Rs 564.24 crore in the same period a year ago.

Idea Cellular

Shares of India’s third-largest telecom operator Idea Cellular Ltd fell as much as 3.6 per cent to Rs 74.05 due to decline in second-quarter net profit.

The company reported a 88 per cent drop in net profit for the quarter ended September.

Citi Research in a note stated that Idea remains vulnerable to competition in the sector given relatively smaller scale and high leverage.

The brokerage firm has maintained “sell” rating with a price target of Rs 70.

The company has a median price target of Rs 85.

As of Monday's close, the stock lost 46.5 per cent this year, underperforming the broader Nifty 50 index’s 9.6 per cent rise.

Bharti Infratel

Shares of Bharti Infratel gained on upbeat Q2 results.

The stock rose as much as 3 per cent to their highest since October 7.

The telecom tower infrastructure provider said Sept-quarter consolidated profit rose about 21 per cent to Rs 774 crore, beating analysts’ estimates.

Analysts at Kotak Securities see acceleration in site additions for Bharti Infratel in the next couple of quarters and expect the company to report stronger numbers in H2.B

The brokerage has maintained “add” rating with a price target of Rs 400.

As of Monday’s close, the stock was down 13.6 per cent this year, underperforming the broader Nifty 50 index’s 9.6 per cent rise.

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