Vodafone Idea reported a net loss of ₹4873.9 crore for the first quarter. This follows a loss of ₹4,881.9 crore posted during the fourth quarter of 2018-19.
June quarter results are the third full-quarter results for Vodafone Idea, post completion of the merger of Vodafone India with Idea Cellular on August 31 last year.
The loss was reported on revenues of ₹11,270 crore and EBITDA of ₹3,650 crore with EBITDA margin of 32.4%.
Balesh Sharma, CEO, Vodafone Idea Ltd., said, “We are delivering on our stated strategy although the benefits are not yet visible in our top line. As we continue to integrate our networks, our customers’ data experience is significantly improving in most services areas and we now lead the league tables on data download speeds in Delhi, West Bengal and Chennai.”
The company’s average revenue per user (ARPU) was up 2.8% at ₹108 for the June quarter. Vodafone Idea lags behind Reliance Jio which posted net profit of ₹891 crore on revenue of ₹11,679 crore.
Another rival Bharti Airtel will announce its results on August 1, 2019.
“We are well on track to deliver our synergy targets by Q1FY21. We expect these factors to increasingly contribute to our financial performance going forward,” Mr. Sharma added.
Vodafone Idea shares on the BSE declined 4.84% to close at ₹9.25 in a firm Mumbai market on Friday, valuing the company at ₹26,580.24 crore.
