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Vodafone Idea Loss At Rs 4873.9 Crore In Q1

India’s largest telecom operator Vodafone Idea Ltd on Friday said its consolidated loss has narrowed to Rs 4,873.9 crore for the first quarter ended June 30. The company had reported Rs 4,881.9 crore loss during the fourth quarter of 2018-19. The merger of the India unit of Vodafone Group and Idea Cellular was completed on August 31, 2018.

The revenue of Vodafone Idea for the June 2019 quarter fell to Rs 11,269.9 crore as against Rs 11,775 crore logged in the January-March 2019 quarter. “We are delivering on our stated strategy although the benefits are not yet visible in our top line. As we continue to integrate our networks, our customers’ data experience is significantly improving in most service areas…” Vodafone Idea CEO Balesh Sharma said. The company is well on track to deliver its synergy targets by the first quarter of FY21, he added.―Financial Express

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