Vodafone Idea Losses Down to Rs 4,873.9 Cr in Q1

The company had reported Rs 4,881.9 crore loss during the fourth quarter of 2018-19.

New Delhi: India’s largest telecom operator Vodafone Idea Ltd on Friday said its consolidated loss has narrowed to Rs 4,873.9 crore for the first quarter ended June 30. (Also read: Vodafone Idea Users to Get Free Access to ZEE5)

The company had reported Rs 4,881.9 crore loss during the fourth quarter of 2018-19. The merger of the India unit of Vodafone Group and Idea Cellular was
completed on August 31, 2018.

The revenue of Vodafone Idea for the June 2019 quarter fell to Rs 11,269.9 crore as against Rs 11,775 crore logged in the January-March 2019 quarter.

“We are delivering on our stated strategy although the benefits are not yet visible in our top line. As we continue to integrate our networks, our customers’ data experience is significantly improving in most service areas…” Vodafone Idea CEO Balesh Sharma said.

The company is well on track to deliver its synergy targets by the first quarter of FY21, he added.

Vodafone has been introducing many schemes to attract new users and keep the old ones hooked.

Recently, it introduced two new prepaid plans priced at Rs 205 and Rs 225. Now, the operator is revising its prepaid plan priced at Rs 1,699. The revised Rs 1,699 prepaid plan from Vodafone comes after Airtel also revised its Rs 1,699 long-term plan.

While the tariff war seems to have eased a bit in the last couple of months, telecom players are not done revising their offerings just yet. With its Rs 1,699 prepaid plan, the operator is now offering data benefits of 1.5GB data per day.