Vodafone Idea slips over 2% after Q2 net loss widens to Rs 7,596 crore

Shares of telecom operator Vodafone Idea (Vi) fell as much as 2.45% to Rs 8.36 in Friday’s intraday trade after the company’s consolidated net loss for the quarter ended September widened to Rs 7,596 crore from Rs 7,297 crore a quarter ago.

However, the revenue rose about 2% sequentially to Rs 10,615 crore and was higher than the estimated Rs 10,591 crore. Operating profit in the quarter declined by more than 5% sequentially to Rs 4,098 crore as expenses went through the roof. Expenses for the saddled operator rose at a faster pace than sales at nearly 3% quarter-on-quarter (QoQ).