Vi shares rise 1.3% initially after telco narrows Q3FY24 net loss

Kolkata: Shares of Vodafone Idea were up 1.3% on Tuesday morning in early trade, a day after the telco narrowed its December quarter net loss to Rs 6989 crore on the back of a one-time exceptional gain as well as lower finance and operational costs, though the stressed telco continued to lose millions of subscribers to its bigger rivals.

Vi’s net loss in the October-December quarter narrowed due to a one-time Rs 755.5 crore gain as the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) in December 2023 had ruled in favour of cash-strapped telco for adjusting excess cash collected by the Department of Telecommunications (DoT) towards Vi’s statutory dues.