Vodafone Idea loss at Rs 7296 crore

Vodafone Idea saw consolidated loss falling marginally to Rs 7,296.7 crore in the first quarter ended June 30. The telco had posted a loss of Rs 7,319.1 crore in the same period of the previous fiscal.

However, on a sequential basis, losses rose from Rs 6,563.1 crore. The narrowing of the losses on a year-on-year basis came as service revenues rose to almost Rs 10,407 crore from Rs 9,144 crore in the same period of the previous year.

The total income of the company stood at Rs 10,494 crore compared with Rs 9,186 crore in the corresponding quarter of 2021-22. Vodafone Idea disclosed that its average revenue per user (ARPU) rose to Rs 128 from Rs 104 in the previous year, a rise of 23.4 per cent, due to tariff hikes. “We are pleased to announce the fourth consecutive quarter of revenue growth. We continue to witness 4G subscriber growth on the back of superior data and voice experience offered by Vi GIGAnet as well as due to our focus on creating a differentiated digital experience for our customers,” Ravinder Takkar, MD & CEO, Vodafone Idea, said.