Vodafone Idea Reports Net Loss in Maiden Quarterly Earnings

Vodafone Idea Reports Net Loss in Maiden Quarterly Earnings

Vodafone Idea reported a total income of Rs 7,878.6 crore during second quarter

Highlights
  • Second-quarter earnings include results for Idea Cellular up to August
  • It also includes those for Vodafone Idea from August 31 to September 30
  • An average revenue per user (ARPU) was of Rs. 88
Advertisement

Vodafone Idea on Wednesday reported a consolidated net loss of Rs 4,973.8 crore for the July-September quarter.

The company, in its maiden quarterly result after the merger of Vodafone India and Idea Cellular, reported a total income of Rs 7,878.6 crore during the second quarter of the current fiscal year ending March.

The merger was completed on August 31.

The second-quarter earnings include results for Idea Cellular up to August 30 and those for Vodafone Idea from August 31 to September 30. Hence, these are not comparable to the year-earlier quarter, the company said in a statement.

It reported an average revenue per user (ARPU) of Rs 88, 4.5 per cent lower sequentially.

On infrastructre integration post merger, the company said that spectrum consolidation and network integration has started and circle-level capex planning for the network integration, including vendor selection, is complete.

Vodafone Idea said that the Board of Directors has established a committee of Board members to evaluate a potential capital raise of up to Rs 250 billion (Rs 25,000 crore).

"The promoter shareholders, Vodafone Group and Aditya Birla Group, have indicated to the Board that they would contribute up to Rs 110 billion (Rs 11,000 crore) and up to Rs 72.5 billion (Rs 7,250 crore), respectively as part of such a capital raise," it added.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Vodafone, Idea, Vodafone Idea
Facebook Can't Be Trusted to Regulate Itself, Says US Lawmaker
Honor Magic 2 Update Brings Magic UI 2.0, November Security Patch: Report
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »