Why analysts remain bearish on Vodafone Idea stock despite narrowing Q4 losses

Vodafone Idea’s narrowing quarterly loss failed to spark any reversal in the bearish stock outlook that most brokerages have on the debt-beleaguered telecom player.

CLSA and Yes Securities have ‘Sell’ calls on the stock. Meanwhile, Motilal Oswal has a ‘Neutral’ stance and Nuvama recommended a ‘Reduce’ on the counter.

Vodafone Idea last week reported a consolidated net loss of Rs 6,419 crore for the January-March quarter versus a loss of Rs 6,563 crore in the year-ago period and Rs 7,988 crore in Q3FY23. The revenue growth remained muted for the telecom operator at Rs 10,532 crore. It was up 3% year-on-year (YoY).