Categories: Business

Vodafone idea loss widens to Rs 25460 crore

Photo: VODAFONE IDEA

Vodafone idea loss widens

new Delhi. Vodafone Idea reported an increase in its losses during the quarter ended in June. The company has shown a loss of Rs 25460 crore in the first quarter of the current financial year. The company reported a loss of Rs 4874 crore in the same quarter last year. The company has seen a jump in losses due to a specific loss of about Rs 20 thousand crore. This includes merger costs, provisions, license fees, spectrum charges, etc. Vodafone Idea, the country's third largest telecom operator by the number of subscribers, is making its eighth consecutive quarterly loss.

The company's business income was down by 5.42 per cent over the previous year to Rs 10659 crore. The company had a revenue of Rs 11270 crore in the same quarter last year. At the same time, the average income from each user i.e. ARPU declined to Rs 114. ARPU stood at Rs 121 during the quarter ended in March. The total debt on the company is more than Rs 1.18 lakh crore. At the same time, the company has cash of Rs 3450 crore. The net debt on the company is Rs 1.15 lakh crore. Net debt stood at Rs 1.12 lakh crore in the March quarter.

After the results, Vodafone Idea CEO Ravinder Bumpka said that the situation in the first quarter was challenging due to the corona epidemic. The quarterly results were impacted by the lack of recharging capacity due to availability of recharges and economic conditions due to store closures.

This post was published on August 6, 2020 6:16 pm

Content Team

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