User disconnect and higher operating costs widen Vi loss

Vodafone Idea’s net loss for the fiscal first quarter widened to Rs 7,296 crore sequentially from Rs 6,544.9 crore, on the back of higher finance and operating costs amid continued subscriber losses.

Quarterly revenue for the cash-strapped operator increased 1.7% sequentially to Rs 10, 410 crore in the April-June quarter from Rs 10,239.5 crore in the January-March quarter.

The company Wednesday also said that outgoing managing director Ravinder Takkar will replace Himanshu Kapania as the telco’s new non-executive chairman from August 19. Takkar himself is being replaced by chief financial officer Akshaya Moondra from the same date.