Vodafone Idea Ltd shares slipped over 25% in intraday trade today, i.e. 29 July, after the first quarter ended June (Q1). Vodafone Idea posted net loss of Rs 4,873.9 crore in the June quarter against loss of Rs 4,881.9 crore in the March quarter. The company’s revenue declined to Rs 11,270 crore in the June quarter from Rs 11,775 crore in the previous quarter.
Vodafone Idea were trading 23.7% low on BSE in last session, while receiving a massive downfall of 74% in the last one year. Vodafone Idea’s average revenue per user (ARPU) during Q1 riseup 3.8% against the previous quarter and combined the company added 4.1 million 4G users in the last quarter.
Vodafone and Idea merged on 31st August 2018. The Vodafone Idea Ltd lost their customers and suffer a massive losses while introducing the minimum monthly recharge plans in its tariffs.
“We are delivering on our stated strategy, although the benefits are not yet visible in our top line,” said Vodafone Idea CEO Balesh Sharma. “As we continue to integrate our networks, our customers’ data experience is significantly improving in most service areas, the company is well on track to deliver its synergy targets by the first quarter of FY21,” he added.
WhatsApp us