The debt-ridden telecom company announced its financial results for the first quarter of the fiscal year 2024-2025 on August 12. On Monday and August 12, the stock slightly increased to 16.22 rupees. The stock has risen 100% over the past year. Its 52-week high is 19.15 rupees and its 52-week low is 7.52 rupees. The company’s market cap is 1,08,674.09 crores.
Financial Results
The telecom company reported a consolidated net loss of 6,432 crores for the June quarter. The 4G subscriber base continued to grow, which helped reduce the loss compared to the previous year.
In the same quarter last year, the company had a consolidated net loss of 7,840 crores. From April to June, Vodafone Idea’s revenue decreased by 1.3% from 10,655.5 crores to 10,508.3 crores.
The company’s quarterly EBITDA (before Ind AS 116) increased by 4.2% year-on-year to 2,100 crores. Vodafone Idea’s CEO, Akshay Mundra, stated that due to recent equity increases, they are expanding 4G coverage and capabilities and starting 5G services.
Price Increases
Vodafone Idea recently announced a price increase of 11-24% for mobile rates from July 4. The minimum recharge price for entry-level plans for 28 days of mobile service has increased by about 11% from 179 to 199 rupees.
The price of the popular 84-day validity plan with 1.5GB data per day has risen from 719 to 859 rupees. The annual unlimited plan price has increased by about 21% from 2,899 to 3,499 rupees.
On Monday and August 12, Vodafone Idea’s stock slightly increased to 16.22 rupees. The stock has doubled in value over the past year. Its 52-week high is 19.15 rupees and its 52-week low is 7.52 rupees. The company’s market cap is 1,08,674.09 crores.
