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Vodafone Idea shares traded 7.84 per cent lower at Rs 9.17.
Shares of Vodafone Idea fell as much as 15 per cent to hit an intraday low of Rs 8.46 on the BSE after its loss widened in quarter ended March 2021 on the back of declining revenues. Vodafone Idea reported net loss of Rs 7,023 crore compared with a loss of Rs 4,532 crore in the previous quarter. Vodafone Idea’s revenue from services declined 12 per cent sequentially to Rs 9,602 crore versus Rs 10,891 crore in December quarter.
Decline in revenue came on the back of abolishment of domestic Interconnect Usage Charge (IUC) effective from January 1, 2021 and 2.2 per cent was on account of lower number of days in the quarter. Average daily revenue, adjusted for IUC impact was flat sequentially, Vodafone Idea said in a press release.
On a reported basis, its earnings before interest, tax, depreciation and amortization (EBITDA) or operating profit for the quarter was Rs 4,410 crore, with EBITDA margins at 45.9 per cent versus 39.3 per cent in December quarter
Vodafone Idea’s net debt during the quarter stood at Rs 1,79,960 crore, the company said in a press release.
Its blended average revenue per user (ARPU), a key metric of earnings of telecom companies came in at Rs 107 per month per subscriber compared with Rs 121 in December quarter.
As of 11:02 am, Vodafone Idea shares traded 7.84 per cent lower at Rs 9.17, underperforming the Sensex which was down 0.6 per cent.
