Vodafone Idea Ltd (VIL) share prices jumped over 18% on Wednesday after two days of underperformance. Currently, the price stands at Rs. 6.35 apiece.
It was rumoured that the company fell short of money for payment of license fee for the June quarter. “VIL has paid its license fee dues for first quarter 2021-22,” a VIL spokesperson said in response to an email query by PTI.
On August 14 the company had reported a loss of Rs 7,319.1 crore for Q1FY 2021-22. It also reported total debt of Rs 1.91 lakh crore. Its revenue declined by 4.7% quarter on quarter (QoQ) to Rs. 91.5 billion because of a slowdown in economic activities due to lockdown/restrictions in several districts during the severe second wave of COVID-19.
“The severe second wave of COVID caused significant disruptions and slowdown in economic activities. During these challenging times, VIL continued to serve its customers and community at large by providing seamless connectivity as well as maintaining superior quality of services. Vi GIGAnet’s superior network experience on both data and voice is testified through top rankings in independent external reports. We continue to focus on executing our strategy to keep our customers ahead, and our cost optimization plan remains on track to deliver the targeted savings. We are in active discussion with potential investors for fundraising, to achieve our strategic intent.” Ravinder Takkar, MD & CEO, Vodafone Idea Limited said in an official statement.
The share touched a 52-week high of Rs 13.80 and a 52-week low of Rs 4.55 on 15 January 2021 and 05 August 2021, respectively.
