Vodafone Idea’s loss narrows to Rs 6,419 crore in March quarter
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In the period under review, the company’s income from services increased by about three percent to Rs 10,506.5 crore, compared to Rs 10,228.9 crore in January-March 2022.
Debt-ridden telecom company Vodafone Idea Ltd (VIL)’s consolidated net loss for the January-March quarter fell to Rs 6,418.9 crore. VIL said in a communication sent to the stock exchanges on Thursday that it had incurred a loss of Rs 6,563.1 crore in the same period a year ago. In the period under review, the company’s income from services increased by about three percent to Rs 10,506.5 crore, compared to Rs 10,228.9 crore in January-March 2022. However, Vodafone Idea’s loss increased to Rs 29,297.6 crore in the entire financial year 2022-23, while its loss in the financial year 2021-22 was Rs 28,234.1 crore.
For the first time after the merger of Vodafone and Idea, the income from the company’s services has also increased. VIL’s revenue grew 9.4 per cent to Rs 42,133.9 crore in the financial year ended. The company’s total gross debt came down to Rs 2.09 lakh crore as on March 31, compared to Rs 2.23 lakh crore at the end of the December 2022 quarter.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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