Vodafone Idea Q1 loss widens 7.5% to Rs 7,837 crore on high expenses

Vodafone Idea’s (Vi’s) net loss widened by 7.5 per cent year-on-year (YoY) to Rs. 7,837 crore in the April-June quarter of 2023-24 (Q1FY24) because of increased expenses. A year ago, the telecom company had reported a net loss of Rs. 7293.3 crore.

Sequentially, the performance was even worse as the telco’s net loss widened by 22 per cent. The cash-strapped company witnessed a spike in finance cost and sluggish rise in operational revenue.

Net sales of the company stood at Rs. 10,610.4 crore, up 1.9 per cent Y-o-Y and just 1 per cent sequentially. Earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at Rs. 4,157 crore, down 1.2 per cent Y-o-Y from Rs. 4,210 crore.