Vodafone Concept's third quarter loss has widenedNew Delhi: Financially stressed out telecom business Vodafone Idea Limited (VIL) reported a consolidated loss of Rs 7,230.9 crore during the October-December 2021 quarter of the existing fiscal.The loss margin has actually broadened as the business had actually tape-recorded a loss of Rs 4,532.1 crore during the corresponding period of last year.Consolidated income from operations declined by 10.8 percent to Rs 9,717.3 crore from Rs 10,894.1 crore in the year-ago duration.
We are pleased to reveal second consecutive quarter of income growth driven by numerous tariff interventions taken in the last couple of months.
While the general subscriber base has declined as a result of the tariff interventions, the 4G subscriber base stayed durable on the back of remarkable information and voice experience used by Vi GIGAnet, VIL MD and CEO Ravinder Takkar said in a statement.Its customer base decreased to 24.72 crore from 26.98 crore in the exact same quarter a year earlier since of tariff hikes by the company.
In November 2021, we increased the prepaid tariffs across all cost points including endless strategies along with combination vouchers, moving the entry level pre-paid plan to Rs 99.
Resultantly, ARPU improved to Rs 115, up 5.2 per cent on quarter on quarter versus Rs 109 in the 2nd quarter of financial year 2022.
The customer base decreased to 247.2 million versus 253.0 million in second quarter of the present fiscal, since of these tariff interventions, the statement said.Despite tariff walkings, average profits per user (ARPU) during the noted quarter declined by about 5 percent compared to Rs 121 it recorded in the very same quarter of 2020-21.
The business's cash and money equivalents were at Rs 1,500 crore and net debt stood at Rs 1,97,480 crore.The debt-ridden business has opted to pay interest of around Rs 16,000 crore through preferential shares to the federal government.
This will lead to the government holding 35.8 percent stake in the company.