Vodafone Idea reports net loss of Rs 7,840 crore in Q1FY24; stock slumps ~3%

16 Aug 2023 , 12:11 PM

Vodafone Idea recorded a loss of Rs 7,840 crore for the quarter ending June 2023, up from Rs 7,297 crore in the previous year’s same quarter and Rs 6,419 crore in the previous March quarter.

Revenue from operations increased by 2% in the first quarter to Rs 10,655 crore, compared to Rs 10,410 crore in the same quarter previous year.

ARPU for the first quarter was Rs 139, up from Rs 135 in the previous quarter, representing a 2.9% sequential increase.

In the reporting quarter, the company recorded an EBITDA of Rs 4,157 crore, with margins of 39%. The EBIT loss for the quarter was Rs 1,459 crore.

For the quarter ended June 2023, the company reported a capex of Rs 450 crore.

At the end of the June quarter, the total gross debt (excluding lease liabilities and including interest accrued but not payable) amounted at Rs 2.11 lakh crore, comprising postponed spectrum payment commitments of Rs 1.33 lakh crore and AGR liability of Rs 66,860 crore owed to the government.

At around 12.08 PM, Vodafone Idea was trading 3.11% lower at Rs 7.80, against the previous close of Rs 8.05 on NSE. 

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