The shares of Vodafone Idea Ltd. fell by 5% at ₹10.90 shares against the previous close at₹11.85 per share, in today’s early trade. The trade opened at Rs ₹11.40 per equity share representing a steep fall by 5% and hitting a high of ₹11.85 per unit in today’s trade.
Vodafone Idea (Vi) losses widened 59.5% to ₹7,230 crore in Q3 FY2022 on a year-on-year (YoY) basis amid a fall in revenue and subscribers. In the same period last year, the company had posted a loss of Rs 4,532 crore.
Gross revenue decreased 10.8% to ₹9,717 crore in the third quarter of FY 2022 while earnings before interest tax and depreciation and amortization (EBITDA) slipped by the same margin to ₹3,816 crore. The company’s third-quarter results last year had benefited from the exceptional income of ₹1,686 crore, which included gains from stake sale in Indus.
The company’s 4G subscriber base rose sequentially to 117 million from 116.2 million in the second quarter. The company also said it had achieved 90% of its targeted savings in operating expenses on a run-rate basis in Q3 FY22 against ₹4,000 crore annualized saving target.
As of December-end, the company’s total gross debt (excluding lease liabilities and including interest accrued but not due) stood at ₹1.98 trillion. This comprised deferred spectrum obligations, adjusted gross revenue liability and bank loans.
