Vodafone Concept’s income from operations declined marginally to Rs 10,791 crore.
Vodafone Concept’s annual loss in September quarter narrowed to Rs 7,218 crore from lack of Rs 50,922 crore through the corresponding interval a 12 months in the past, the Mumbai-based wi-fi telecom service stated in a inventory trade submitting. (Track Vodafone Idea stock price here)
Vodafone Concept’s income from operations declined marginally to Rs 10,791 crore from Rs 10,844 crore throughout the identical interval final 12 months, Vodafone Concept’s trade submitting confirmed.
The subscriber base declined to 27.18 crore on the second quarter of present monetary 12 months 27.98 crore within the earlier quarter. Nonetheless, the gross additions improved with gradual reopening of retail shops.
Vodafone Concept’s common income per consumer (ARPU) for September quarter improved to Rs 119 monthly from Rs 114 within the earlier quarter.
“In the course of the quarter firm’s value optimization course of is underway with goal to attain Rs 4,000 crore annualized opex financial savings over subsequent 18 months,” Vodafone Concept stated in a press launch.
“Whereas we proceed to face COVID-19 induced challenges, Q2FY21 confirmed indicators of restoration with a gradual enchancment in financial actions. We’re executing on our technique and our value optimization train has already began to yield incremental financial savings. We now have additionally initiated a fund elevating train to assist our strategic intent. Additional, we proceed to work together with the federal government in search of long run options to the important challenges, which the business faces,” Ravinder Takkar, MD & CEO, Vodafone Concept stated in a press release.
Vodafone Idea’s shares closed 3.46 per cent decrease at Rs 8.38 forward of its earnings announcement, underperforming the Sensex which closed 0.43 per cent decrease.
Discover more from News Journals
Subscribe to get the latest posts sent to your email.
