Vodafone Idea Q3 Loss Narrows to Rs 6,986 Crore
By Rediff Money Desk, NEWDELHI Jan 29, 2024 18:59
Vodafone Idea reports narrowed losses of Rs 6,986 crore in Q3 FY24, with revenue remaining flat. ARPU rose 7.4% YoY to Rs 145. Company focuses on 4G growth and 5G rollout.
![Vodafone Idea Q3 Loss Narrows to Rs 6,986 Crore](https://im.rediff.com/money/2017/nov/15telecom.jpg)
New Delhi, Jan 29 (PTI) Telecom operator Vodafone Idea (VIL) on Monday reported narrowing of losses to Rs 6,986 crore in the third quarter of the current fiscal.
The losses stood at Rs 7,990 crore a year ago, the company said in a regulatory filing.
During the quarter under review, the revenue from operations for the ailing telco came in at Rs 10,673.1 crore, nearly flat over the corresponding period previous year.
VIL's revenue from operations stood at Rs 10,620.6 crore in the third quarter of FY23.
In a statement, the company said its ARPU (average revenue per user) in the reporting quarter stood at Rs 145 against Rs 135 in the third quarter of FY23. This translates into a year-on-year growth of 7.4 per cent.
Akshaya Moondra, CEO of Vodafone Idea, said: "We are pleased to report highest EBITDA of Rs 21.4 billion in last 11 quarters. In line with the evolving industry landscape and changing customer needs, we have revamped our offerings as well as focusing on our execution to effectively compete in the market."
As a result, the company has been able to grow its 4G subscribers and ARPUs consecutively for the last 10 quarters.
"We remain engaged with various parties for fund raising, to make required investments for network expansion, including 5G roll-out," Moondra added.
The losses stood at Rs 7,990 crore a year ago, the company said in a regulatory filing.
During the quarter under review, the revenue from operations for the ailing telco came in at Rs 10,673.1 crore, nearly flat over the corresponding period previous year.
VIL's revenue from operations stood at Rs 10,620.6 crore in the third quarter of FY23.
In a statement, the company said its ARPU (average revenue per user) in the reporting quarter stood at Rs 145 against Rs 135 in the third quarter of FY23. This translates into a year-on-year growth of 7.4 per cent.
Akshaya Moondra, CEO of Vodafone Idea, said: "We are pleased to report highest EBITDA of Rs 21.4 billion in last 11 quarters. In line with the evolving industry landscape and changing customer needs, we have revamped our offerings as well as focusing on our execution to effectively compete in the market."
As a result, the company has been able to grow its 4G subscribers and ARPUs consecutively for the last 10 quarters.
"We remain engaged with various parties for fund raising, to make required investments for network expansion, including 5G roll-out," Moondra added.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...