Vodafone Idea loss narrows to Rs 4,540 crore

Vodafone Idea has narrowed its net loss to Rs 4,540.8 crore for the October-December 2020 quarter, primarily due to one-time gain of Rs 1,697 crore, which includes gains made on sale of stake in Indus Towers.

The company had reported a net loss of Rs 7,203.4 crore in the preceding July-September period. The loss for the reported period is also much lower than Bloomberg estimates of a net loss of Rs 5,879.70 crore.

The company’s revenue stood at Rs 10,894.1 crore for the period, just about a per cent higher than Rs 10,791.2 crore in the preceding quarter.