Loan Telecom company Vodafone Idea Limited released its second quarter financial results on Wednesday. Vodafone Idea said in the information given to the stock market exchange that it has suffered a net loss of Rs 7175.9 crore in the second quarter of the financial year 2024-25. The company's losses have declined compared to the second quarter of the last financial year. The company had a net loss of Rs 8746.6 crore in the second quarter of the financial year 2023-24. The company said the decline in losses was due to increase in average earnings per customer (ARPU) after the tariff rate increase in July.
Decline in number of Vodafone Idea customers
The company said it suffered a loss of customers on a quarterly basis due to the increase in tariffs. Vodafone Idea has increased the rates of mobile services by 11 to 24 percent from July 4. After the tariff hike, there has been a decline in the total number of VIL customers as well as 4G customers. On a quarterly basis, the total number of subscribers of the company decreased from 21 crore to 20.5 crore and the number of 4G subscribers decreased from 12.67 crore to 12.59 crore. The company's CEO Akshay Mundra has still indicated the need for another increase in tariffs to meet the cost of capital.
The company's shares made a new 52 week low on Wednesday
Let us tell you that the company's losses have increased compared to the last financial year. The company had a net loss of Rs 6432 crore in the first quarter of the current financial year. The company said that its revenue increased to Rs 10,932.2 crore in the second quarter of the current financial year, which was Rs 10,716.3 crore in the second quarter of the last financial year. On Wednesday, the company's shares once again saw a decline. Today Vodafone Idea share price fell by 3.91% (Rs 0.30) to Rs 7.37. Shares of the company touched a new 52 week low of Rs 7.33 during trading today. The 52 week high of the company's shares is Rs 19.15.
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