Voda Idea shares up in early trade after Q4 show
Vi's net loss for the fiscal fourth quarter expanded to Rs 7,675 crore, up from Rs 6,986 crore in the previous quarter. The telecom company faces challenges from high debt and ongoing customer losses to competitors like Reliance Jio and Bharti Airtel.
’s (Vi) rose 0.68% in early trade on Friday, a day after the telecom operator reported its fourth financials with widening losses.The company’s stock opened 0.68% higher, touched a high of Ra13.29 before paring gains to be trading down 0.2% at Rs 13.12 per share on the BSE.
Vi’s for the fiscal fourth quarter widened to Rs 7,675 crore from Rs 6,986 crore in the preceding quarter as the stressed continued to be dragged by high and continuing customer losses to bigger rivals and .
Its remained almost flat sequentially at Rs 10,610 crore for the quarter ended March.
Operationally, however, the joint venture between the UK’s and India’s saw improvement, reporting its highest quarterly earnings before interest, tax, depreciation and amortisation () post the 2018 merger of Rs 2,180 crore.
Having raised over Rs 20,000 crore recently through , the cash-strapped telco said it is in discussions with a consortium of banks to raise up to Rs 25,000 crore and additional non-fund-based facilities of up to Rs 10,000 crore, it announced on Thursday.
Source: Stocks-Markets-Economic Times
