Vodafone Idea Q4 loss at Rs 4,882 cr; co says strategic initiatives taking effect
India's largest telecom operator Vodafone Idea Monday said its consolidated loss has narrowed sequentially to Rs 4,881.9 crore in March 2019 quarter, as strategic initiatives to improve revenue and average realisation from subscribers helped financials.
The loss has narrowed from Rs 5,004.6 crore during the third quarter of 2018-19, aided by 3.4 per cent drop in total expenses.
The books of Vodafone Idea recorded a comprehensive loss of Rs 962.2 crore in the corresponding quarter a year ago, but the year-on-year figure is not comparable as the merger between India unit of Vodafone Group and Idea Cellular was completed on August 31, 2018.
For Vodafone Idea -- whose financials has been battered by intense competition posed by the richest Indian Mukesh Ambani's Reliance Jio -- the revenue from operations for March quarter of 2018-19 came in at Rs 11,775 crore, almost flat compared to Rs 11,764.8 crore logged in the previous December quarter.
A Vodafone Idea statement highlighted that the