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Vodafone Idea loss widens to ₹6,439 cr

Mail Today

February 14, 2020

VODAFONE Idea on Thursday reported its sixth straight quarterly loss with its net loss widening to Rs 6,438.8 crore in October-December 2019 compared to Rs 5,004.6 crore in the year-ago period as the leading telecom is reeling from an intense three-year-long price war unleashed by rival Reliance Jio.

Sequentially, the company’s losses are substantially lower than Rs 50,922 crore suffered in the September quarter, when it made provisions for statutory dues following the Supreme Court order in the adjusted gross revenue (AGR) issue.

The company, a joint venture between Britain's Vodafone Group and billionaire Kumar Mangalam Birla's Idea Cellular, posted a 5 per cent fall in income to Rs 11,380.5 crore during the quarter from Rs 11,982.8 cr in the year-ago period, according to a regulatory filing.

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