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Vodafone Idea shares tumble 8% after Q3 loss widens

Vodafone Idea has decided to opt for converting about ₹16,000 crore interest dues liability payable to the government into equity which will amount to around 35.8% stake in the company. File

Vodafone Idea has decided to opt for converting about ₹16,000 crore interest dues liability payable to the government into equity which will amount to around 35.8% stake in the company. File

Shares of Vodafone Idea tumbled 8% on January 24 after the company reported widening of its consolidated loss to ₹7,230.9 crore for the third quarter ended December 2021.

The telecom operator's stock tanked 7.98 % to settle at ₹10.95 on the BSE. During the day, it plummeted 9.66% to ₹10.75.

On the NSE, it tumbled 7.59% to settle at ₹10.95.

Its market valuation declined by ₹2,729.75 crore to ₹31,465.25 crore on the BSE.

In traded volume terms, 587.84 lakh shares were traded on the BSE and over 34.52 crore shares on the NSE during the day. The earnings were announced post market hours on Friday.

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

Consolidated revenue from operations declined by 10.8% to ₹9,717.3 crore, from ₹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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Printable version | May 24, 2022 4:25:11 am | https://www.thehindu.com/business/markets/vodafone-idea-shares-tumble-8-after-q3-loss-widens/article38319246.ece