Vodafone Idea shares surge 4% despite losses widening in Q4
The company’s cons loss widened to Rs 7,675 crore versus Rs 6,419 crore reported in the year-ago period. Its revenue stood at Rs 10,607 crore. An income tax refund helped Vi generate operating cash flow of Rs 12,100 crore.
of on Friday jumped 4% to the day’s high of Rs 13.65 despite the company’s consolidated net increasing to Rs 7,675 crore against Rs 6,419 crore reported in the year-ago period.The company’s from was reported at Rs 10,607 crore, up from Rs 10,532 crore reported in the year-ago period, while the for the quarter stood at Rs 146 versus Rs 135 in Q4FY23.
VIL generated operating cash flow of Rs 12,100 crore (up 10% YoY) due to an income tax refund. The capex and spectrum payments declined 60% YoY to Rs 2,000 crore (vs. Rs 5,500 crore in FY23).
After an interest payment of Rs 2,900 crore, FCF stood at Rs 7,300 crore (vs. Rs 3,300 crore in FY23).
Vodafone’s loss (continuing for the last 22 quarters) narrowed by 26 lakh in (vs. 46 lakh in the third quarter) to 21.26 crore.
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Recently, domestic brokerage gave a sell call on the stating that the is a high-risk, high-reward opportunity. In the bull case scenario, it can rally up to Rs 23. However, gave a target price of Rs 14.5 for Vodofone, predicting that telecom tariffs may go up by 20-25% after Lok Sabha elections.
Last month, follow-on public offer (FPO) shares of the stock got listed on the exchanges and opened at a 7.2% premium compared to their FPO issue price of Rs 11. The company raised funds for capex purposes to increase its network infrastructure by expanding the capacity of the existing 4G sites and setting up new 4G and 5G infrastructure as well.
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Source: Stocks-Markets-Economic Times
