Vodafone Idea shares surge over 3% on Q4 results

Vodafone Idea shares surged over 2% after company announced its financial results for the fourth quarter of the fiscal year 2023-24 on May 16. The company reported a net loss of ₹7,674 crore for the quarter ending March 31, 2024, up from a ₹6,418.9 crore loss in the same period last year.

Despite the bigger losses, VI’s revenue from operations showed a small increase, rising to ₹10,606 crore from ₹10,531 crore in the same quarter of the previous fiscal year.

Advertisement

The company’s average revenue per user (ARPU), which shows how much revenue is generated from each subscriber, grew slightly to ₹146. This was up from ₹145 in the previous quarter and ₹135 in the same quarter last fiscal year. The ARPU growth was mainly due to changes in entry-level plans and subscriber upgrades.

In a positive note, VI reported its highest post-merger quarterly EBITDA of ₹2,180 crore, a 5.4% increase compared to last year.

Investors reacted positively to the results. Vodafone Idea’s shares were trading 3.04% higher at ₹13.55 on the National Stock Exchange as of 12:52 pm on Friday, May 17, 2024.