Vodafone Idea shares down over 6% on widening net losses in Q3FY22
Shares of telecom service provider Vodafone Idea declined over six per cent on Monday after the company reported about its widening net losses during Q3FY22.
New Delhi, Jan 24 Shares of telecom service provider Vodafone Idea declined over six per cent on Monday after the company reported about its widening net losses during Q3FY22.
The company's net losses widened year-on-year to Rs 7,230 crore during the Q3FY22. In the same quarter last fiscal, it was Rs 4,532 crore. In Q2FY22, it was Rs 7,132 crore.
Revenue from operations during the quarter declined to Rs 9,717 from Rs 10,894 crore in the same period in the corresponding fiscal.
The earnings for the quarter were released after market hours on Friday.
At 1.07 p.m. on Monday, the shares traded at Rs 11.05 per share, down 6.8 per cent from Friday's settlement price.
However, Average Revenue Per User during the quarter stood at Rs 115, as against Rs 109 in Q2FY22, an increase of 5.2 per cent quarter-on-quarter, due to an upward revision in prepaid tariffs in late November.
In late November 2021, Vodafone Idea, along with Bharti Airtel and Reliance Jio, raised tariffs on prepaid customers by around 20 per cent.