Voda Idea’s loss narrows to ₹7,297crore on tariff hike

NEW DELHI: Vodafone Concept on Wednesday reported marginal narrowing of its consolidated loss to Rs 7,297 crore for the June quarter in comparison with Rs 7,319 crore year-ago interval, as tariff hikes boosted its realisations.
Vodafone Concept’s income from operations grew to about Rs 10,410 crore within the June quarter, bettering almost 14% from the year-ago interval.
Its common income per consumer (Arpu) — a key monitorable for telecom gamers — stood at Rs 128 per subscriber for the quarter in comparison with Rs 104 within the earlier 12 months. This represented an enchancment of 23. 4% year-on-year, helped by tariff hikes.
Vodafone Concept CEO Ravinder Takkar stated, “We proceed to witness 4G subscriber development on the again of superior information and voice expertise. ” He added that the corporate has acquired ample spectrum in key markets to supply superior 5G expertise to clients. “We additionally accomplished the primary tranche of fundraising within the type of preferential fairness contribution of Rs 4,940 crore from our promoters,” Takkar stated.
The corporate continues to stay engaged with lenders and traders for additional fundraising. Its income development at 13. 7% was the “highest since merger” in 2018.