Vodafone Idea Q1 net loss narrows to Rs 7,319 cr; revenue declines 14%

Vodafone Idea (Vi) narrowed its net loss by 71 per cent to Rs 7,319 crore in first quarter FY 2022 on a year on year basis on account of lower exceptional expenses. In the same period last year it had posted a net loss of Rs 25,460 crore due to provisioning for adjusted gross revenue dues liability.

On a sequential basis, however, it was a weak showing and the loss widened from Rs 7,022 crore due to lower revenue.

While the telecom company had managed to trim subscriber losses in the third and fourth quarter FY 2021, it lost 12.4 million subscribers in the June end quarter. The company’s customer base shrunk to 255.4 million subscribers with the company blaming the erosion to the second wave of Covid-19 pandemic. Rival