Vodafone Idea Shares Fall Over 5% After Q3 Loss Widens

Vodafone Idea’s shares fell by over 5 per cent during early trade on Monday

New Delhi:

Financially stressed telecom company Vodafone Idea’s shares fell by over 5 per cent in early trade on Monday after the company reported widening of its consolidated losses to Rs 7,230 crore for the December quarter period of the current fiscal.

Its stock tanked 5.46 per cent to Rs 11.25 on the Bombay stock exchange (BSE).

At the National stock exchange (NSE), it tumbled 5.06 per cent to Rs 11.25.

Vodafone Idea had announced its third quarter results on Friday, January 21, after market hours.

The company had posted a loss of Rs 4,532.1 crore in the same period a year ago.

Consolidated revenue from operations declined by 10.8 per cent to Rs 9,717.3 crore, from Rs 10,894.1 crore in the year-ago period.

Its subscriber base declined to 24.72 crore, from 26.98 crore in the same quarter a year ago, because of tariff hikes by the company. 

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