Vi net loss in Q1 widens, promoter to infuse Rs2,000 cr

Vodafone Idea’s net loss for the fiscal first quarter widened sequentially as it continued to lose subscribers and pay more as interest, even as the cash strapped telco said Monday that one of the promoters has agreed to provide up to Rs 2,000 crore funding.

The telco’s loss for Q1FY24 widened to Rs 7,840 crore, beating estimates, compared with Rs 6,418.9 crore in the previous three-month period. Quarterly revenue increased 1.2% sequentially to Rs 10, 655.5 crore in the January-March quarter. Average revenue per user (ARPU), a key performance parameter, rose 2.9% to Rs139 on a better subscriber mix and more 4G users.