Vodafone Idea Q4 results: Share price gains over 2% as net loss narrows

Vodafone Idea share price gained over 2% in early morning deals on Friday after the company reported narrowing of its net loss for the quarter ended March 2023. The stock price rose as much as 2.71% to ₹7.18 apiece on the BSE.

The telecom operator posted a net loss of ₹6,418.9 crore in Q4FY23, down from a loss of ₹6,563 crore in the corresponding period last year.

The company’s revenue from operations during the quarter rose 3% to ₹10,532 crore from ₹10,239 crore, YoY, supported by subscriber mix and 4G subscriber additions.

Vodafone Idea’s average revenue per user (ARPU) improved to ₹135 from ₹124 a year ago led by the migration of subscribers to higher ARPU plans.

On the operating front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q4FY23 decreased to ₹4,210 crore from ₹4,649 crore in the same quarter last fiscal.