Shares Of Vodafone Idea Soar 4 Per Cent After Earnings Report
Vodafone Idea reported narrowing of its consolidated losses to Rs 6,563.1 crore for the fourth quarter (Q4) ended March
New Delhi: Telecom major Vodafone Idea’s shares gained 4 per cent in the morning trade on Wednesday, according to the BSE data.
The telco reported narrowing of its consolidated losses to Rs 6,563.1 crore for the fourth quarter (Q4) ended March.
On the BSE, the stock jumped 3.31 per cent to Rs 9.03, while on the NSE, it went up by 4 per cent to Rs 9.05 apiece.
The company on Tuesday reported narrowing of its consolidated losses to Rs 6,563.1 crore in Q4, compared to the same period of the previous year.
ALSO READ | Stock Market: Sensex Sinks 480 Points, Nifty Tests 16,100 Amid High Volatility
However, the realisation per user or average revenue per user (ARPU) improved sharply on a sequential basis aided by November tariff hikes.
Vodafone Idea’s losses were at Rs 7,022.8 crore a year ago, according to the company filing.
The revenue from operations of the telco surged 6.6 per cent year-on-year (YoY) to Rs 10,239.5 crore in Q4 FY22.
The revenue was up 5.4 per cent sequentially, supported by tariff hikes effective November 25, 2021, the company said in a statement.
This translated into a sequential increase of 7.5 per cent in ARPU, although the company's subscriber base declined to 243.8 million against 247.2 million in Q3 FY22, primarily due to the tariff hike.
At 1.30, the Voda Idea shares have pared the gains and turned negative due to volatile market. The stocks were trading at Rs 8.58, down 1.83 per cent.
Top Headlines
