Vodafone Idea Shares Fall Over 5%, Nykaa Plunges 11%

New Delhi: Shares of Vodafone Idea plunged over 5 per cent in early trade on Monday after the company reported widening of its consolidated loss to Rs 7,230.9 crore for the third quarter ended December 2021.

The telecom company's stock dropped 5.46 per cent to Rs 11.25 on the BSE. At the NSE, it tumbled 5.06 per cent to Rs 11.25.

The earnings were announced post-market hours on Friday. The company had posted a loss of Rs 4,532.1 crore in the same period a year ago.

Consolidated revenue from operations declined by 10.8 per cent to Rs 9,717.3 crore, from Rs 10,894.1 crore in the year-ago period.

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Its subscriber base declined to 24.72 crore, from 26.98 crore in the same quarter a year ago, because of tariff hikes by the company.

On the other hand, shares of Nykaa, consumer technology platform, hit a new low of Rs 1,776.50, down 11 per cent on Monday, falling as much as 13 per cent in past two trading sessions on the BSE. The stock of fashion and cosmetics online retailer has dropped below its previous low of Rs 1,886 touched on December 20, 2021.

With the past two days decline, the stock price of Nykaa has shed 30 per cent from its record high of Rs 2,574 touched on November 26, 2021. The company issued shares at price of Rs 1,125 per share in its initial public offer (IPO). The stock had made a stock market debut on November 10, 2021.

At 12.30 pm, Nykaa traded at 10.70 per cent lower at Rs 1,779.