Vodafone Idea Q1 results point to default risk amid weakening cash flows: Analysts

Kolkata: Vodafone Idea (Vi) ‘s fiscal first quarter results underline the risk of a default amid its deteriorating cash flow situation, say analysts, who add that unless the government steps in, India may well turn into a two-private player market.

The company’s shares initially plunged 7.5% in Monday morning trade after it reported last Saturday that its June quarter losses widened sequentially to Rs 7,312.9 crore on a 4.7% fall in revenue of Rs 9,152.3 crore, which was the lowest in more than two years.

The Vi stock was down 4.6% at Rs 6.03 during Monday mid-morning trade on the BSE.