Vodafone Idea share falls 8 percent After Q3 Loss Widens
Published On: Monday, January 24, 2022 | By: Team KnowMyStock
Shares of Vodafone Idea fell by over 8 percent in early trade on Monday after the company reported widening of its consolidated losses to ₹ 7,230 crores for the December quarter period of the current fiscal from Rs 4,532.1 crore compared to the corresponding quarter last year. The operational performance of the company was weak in the reported quarter. The Consolidated operating profit of the company declined 1.2 percent on a quarter-on-quarter basis to Rs 3,816.5 crore despite the company undertaking tariff hikes in the quarter. Consolidated revenue from operations declined by 10.8 percent to ₹ 9,717.3 crores, from ₹ 10,894.1 crores in the year-ago period. The company's earnings per share dropped from Rs 24.8 lakh in Q2FY22 to Rs 25.2 lakh in the latest quarter. The company reported a paid-up equity share capital of Rs 28,735.4 crore, the same as the previous quarter.
“We remain focused on executing our strategy to improve our competitive position and win in the marketplace. Separately, we have opted for upfront conversion of interest arising from deferment of the spectrum and AGR dues into equity," Ravinder Takkar, MD and CEO, Vodafone Idea Limited, said.
Tags: Loss widens Q3 result Idea
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