Vodafone Idea, the country’s third largest telecom operator, saw its net loss for the January-March quarter narrowing to Rs 6,419 crore from Rs 7,990 crore in the preceding quarter, owing to fall in network expenses, finance cost, depreciation, among others.
Bloomberg had estimated the company’s net loss narrowing to Rs 7,516 crore. Vodafone Idea’s revenue from operations missed estimates and fell 1% q-o-q to Rs 10,506.5 crore. Bloomberg had pegged revenues at Rs 10,590 crore.
Annual revenue in FY23 rose 9.5% y-o-y to Rs 42,180 crore, an increase for the first time since the merger of Vodafone India and Idea Cellular, the company said.
In the March quarter, the company lost 2.7 million mobile subscribers, taking its subscriber base to 225.9 million at the end of March. Vodafone Idea’s blended churn of subscribers reduced to 3.8% during the quarter compared to 4.4%…
