Vodafone Idea shares gain 4% post incomes announcement
NEW DELHI: Shares of telecom operator Vodafone Idea gotten 4 percent in early morning trade on Wednesday, a day after the company reported narrowing of its consolidated losses to Rs 6,563.1 crore for the 4th quarter ended March. The stock leapt 3.31 per cent to Rs 9.03 on the BSE.
At the NSE, it went up by 4 per cent to Rs 9.05 apiece.
Vodafone Concept on Tuesday reported narrowing of its consolidated losses to Rs 6,563.1 crore for the fourth quarter ended March, compared to the same period of the previous year, while its realisation per user or ARPU enhanced sharply on a sequential basis helped by November tariff walkings.
VIL’s losses were at Rs 7,022.8 crore a year ago, as per a business filing.
Its earnings from operations rose 6.6 percent year-on-year to Rs 10,239.5 crore in Q4 FY22. Seen sequentially, the income was up 5.4 per cent supported by tariff hikes effective November 25, 2021, the company said in a statement.
The realisation per user measured in terms of ARPU– an essential metric for telcos– increased to Rs 124 for the just-ended quarter from Rs 115 in the previous three-month duration.
This translated into a sequential boost of 7.5 percent in Average Income Per User (ARPU), although the company’s subscriber base decreased to 243.8 million against 247.2 million in Q3 FY22, mainly due to the tariff hike.
Published at Wed, 11 May 2022 05:56:19 +0000