Vodafone Idea reduces loss to Rs 7,176 crore in July-Sept quarter
Vodafone Idea has reduced its losses to Rs 7,176 crore in the July-September quarter of the current financial year from Rs 8,738 crore in the same quarter last year.
Vodafone Idea reported a consolidated net loss of Rs 6,985.1 crore for the fourth quarter of FY21. During the Q3FY20, the company had reported a net loss of Rs 4,540.8 crore.
Its total revenue for the fourth quarter of FY21 was Rs 9,607.6 crore.
Vodafone Idea Ltd MD & CEO Ravinder Takkar said: “FY21 has been a transformational year for Vodafone Idea with several important milestones achieved including launch of our unified brand ‘Vi’. We enter FY22 with renewed focus on executing our strategy to keep our customers ahead, and our cost optimisation plan remains on track to deliver the targeted savings.”
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He also said that the company is in active discussion with potential investors for fund raising, to achieve its strategic intent.
In a statement, the company said that it continues to invest in 4G to increase its coverage and capacity.
“We have also started to actively upgrade our 3G network to 4G. During the year, we added 43,500 4G FDD sites primarily through reframing of 2G/3G spectrum to expand our 4G coverage and capacity,” it said.
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