Telecom Major Declares A Decline In Loss To Rs 6,419 Cr, Revenue Increased By 3%

Vodafone Idea reported a consolidated loss of Rs 6,419 crore for the fourth quarter, representing a significant improvement compared to the same period last year. This reduction in losses showcases the company's ongoing efforts to enhance its financial performance amidst fierce market competition.

The telecom operator posted a combined net loss of Rs 6,419 crore, down from Rs 6,563 crore a year ago and Rs 7,988 crore a quarter ago, in its fourth-quarter results released on Thursday. Year on year (YoY), revenue from operations increased by approximately 3% to Rs 10,532 crore.

However, the loss for FY23 increased to Rs 29,301 crore from Rs 28,245 crore the previous year. The operating revenue increased by approximately 10% to Rs 42,177 crore.

Operating profit (EBITDA) increased marginally to Rs 4,210 crore from Rs 4,181 crore in the previous quarter.

The average revenue per user (ARPU) increased to Rs 135 from Rs 124 a year ago, mostly due to subscriber migration to higher ARPU plans, according to the business.

On BSE, the last trading price of Vodafone Idea was Rs 6.99 per share. The stock's 52-week high price is Rs 10.23 per share, while its 52-week low price is Rs 5.70 per share. The market capitalisation of the company is Rs 34,027.10 crore.