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Vodafone Idea Q3 results: Consolidated net loss narrows to Rs 4,532 cr on one-time gain

MUMBAI: Vodafone Concept at the moment reported a consolidated internet lack of Rs. 4,532.Four crore for the quarter ended December as in opposition to a internet lack of Rs. 7,218.5 crore within the earlier quarter. The corporate’s revenues for the interval grew 1 per cent on-quarter to Rs. 10,894 crore.

Analysts had anticipated the corporate to report a consolidated internet lack of Rs. 6,463.2 crore on revenues of Rs. 10,842.28 crore.

In the course of the quarter the corporate noticed a one-time internet acquire of Rs. 1,696.5 crore, which incorporates positive factors made on sale of its stake in Indus Towers. Within the earlier quarter, the corporate had reported a one-time lack of Rs. 767.1 crore.

Vodafone Concept mentioned that it’s in energetic discussions with potential traders to boost capital after its board within the earlier quarter had authorized fund elevating of Rs. 25,000 crore.

Vodafone Concept’s consolidated working revenue within the quarter rose 3.2 per cent on a quarter-on-quarter foundation to Rs. 4,286.2 crore. The telecom operator’s consolidated working margin expanded 80 foundation factors from the earlier quarter to 39.Three per cent.

“In Q3FY21, we improved subscriber retention and working efficiency,” mentioned Ravinder Takkar, managing director and chief govt officer at Vodafone Concept in an earnings assertion.

“We stay targeted on executing our technique, and our value optimization plan stays on observe to ship the focused financial savings,” Takkar mentioned.

Vodafone Concept mentioned that it was on-track to realize its beforehand talked about prices financial savings goal off Rs. 4,000 crore by December 2021. The corporate mentioned that it has already achieved 50 per cent of the focused working effectivity within the December quarter.

Crucially, the corporate mentioned that its common income per person within the quarter improved to Rs. 121 from Rs. 119 within the earlier quarter. The corporate additionally mentioned that its gross subscriber additions improved within the quarter, whereas person churn lowered to 2.Three per cent within the December quarter from 2.6 per cent within the earlier quarter.

The telecom operator’s subscriber base declined 2 million within the December quarter to 269.eight million. Vodafone Concept’s 4G subscriber base stood at 109.7 million on December 31, up 3.6 million from the earlier quarter.

The corporate’s gross debt on the finish of the December quarter was at Rs. 1.1 lakh crore.

On Friday, shares of the corporate had ended 4.7 per cent decrease at Rs. 12.30 on the Nationwide Inventory Change.

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