This Article is From Jul 24, 2012

Telenor Q2 in line, to buy back 3% of shares

Telenor added that it would buy back around 47 million of its shares, or around 3 per cent of all shares.

Jul 24, 2012 10:50 IST
- Published On Jul 24, 2012 10:49 IST
- Last Updated On Jul 24, 2012 10:50 IST

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Telenor Q2 in line, to buy back 3% of shares

Anand Shimpi (Image courtesy: theverge.com)

Wipro, India's third largest software services firm, reported muted growth in the June quarter. Net profit rose 6.6 per cent sequentially to Rs 1,580 crore against Rs 1,481 crore in the March quarter, lower than estimates of Rs 1,641 crore. Suresh C. Sena

New Delhi:

Telenor, the Norwegian mobile phone operator with over 150 million subscribers across Europe and Asia, reported second quarter operating profit in line with expectations on Tuesday and announced a share buyback.

Telenor said its second-quarter earnings before interest and taxes (EBIT) rose 32 percent to 4.29 billion Norwegian crowns, spot on expectations for 4.29 billion in a recent poll of analysts.

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Telenor added that it would buy back around 47 million of its shares, or around 3 per cent of all shares.

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