Vodafone Idea’s net loss widens to Rs 5,005 crore, but ARPU improves in Q3

The books of Vodafone Idea recorded comprehensive loss of Rs 1,284.5 crore in the same quarter a year ago.

Published: 06th February 2019 06:00 PM  |   Last Updated: 07th February 2019 08:41 AM   |  A+A-

Vodafone Idea

The Vodafone-Idea merger approved (File Photo)

By Express News Service

NEW DELHI: Telecom operator Voafone Idea on Wednesday reported a consolidated loss of Rs 5,005.7 crore for the third quarter of 2018-19.

The books of Vodafone Idea recorded comprehensive loss of Rs 1,284.5 crore in the same quarter a year ago.

However, the year-on-year figure are not comparable as the merger between Vodafone and Idea completed on August 31, 2018.

The loss, however, widened on sequential quarter basis.

Total income of Vodafone Idea stood at Rs 11,982.8 core during the reported quarter.

The income increased by 52 per cent compared to Rs 7,878.6 crore in the previous July-September quarter.

"The initiatives taken during the quarter started showing encouraging trends by the end of the quarter.

We are moving faster than expected on integration, specifically on the network front, and we are well on track to deliver our synergy targets," Vodafone Idea CEO Balesh Sharma said.

The books recorded total income of Rs 6,551.6 crore in the same quarter a year ago.

"We remain focused on fortifying our position in key districts by expanding the coverage and capacity of our 4G network, and target a higher share of new 4G customers, while offering an enhanced network experience to our customers. The proceeds from the announced capital raise will put us in a strong position to achieve our strategic goals," Sharma said.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp