Vodafone Thought web loss narrows to Rs 6,563 crore, inventory jumps 4%

New Delhi: Telecom agency Vodafone Thought, on Tuesday (Might 10), reported a consolidated web lack of Rs 6,563 crore for the fourth quarter of 2021-22, which is decrease than Rs 7,023 crore web loss recorded within the corresponding interval of final 12 months. The corporate’s shares gained 4 per cent in morning commerce on Wednesday. 
The corporate`s income for the quarter ended March 2022 rose to Rs 10,240 crore, from Rs 9,647.8 crore recorded within the corresponding quarter of the final 12 months, posting a year-on-year improve of 6.46 per cent. Quarter-on-quarter foundation, the corporate`s income grew by 5.4 per cent in January-March 2022 interval.
Vodafone Thought mentioned in an announcement that the expansion in income was supported by tariff hikes efficient November 25, 2021. 
“We’re happy to announce the third consecutive quarter of income progress pushed by tariff interventions taken in November 2021. Whereas the general subscriber base has been impacted totally on account of the tariff improve, the 4G subscriber base continued to develop on the again of superior knowledge and voice expertise provided by Vi GIGAnet,” mentioned Ravinder Takkar, MD & CEO, Vodafone Thought Restricted.
“We’re within the course of of making a differentiated digital expertise for our prospects and added a number of new digital choices throughout numerous genres through the quarter. We efficiently accomplished the primary tranche of fundraising within the type of a preferential fairness contribution of Rs 45 billion from our promoters. We proceed to actively interact with lenders and traders for additional fundraising,” Takkar added.
The corporate`s complete gross debt (excluding lease liabilities and together with curiosity accrued however not due) as of March 31, 2022 stands at Rs 1,97,880 crore, comprising of deferred spectrum fee obligations of Rs. 1,13,860 crore, AGR legal responsibility of Rs 65,950 crore which can be because of the Authorities and debt from banks and monetary establishments of Rs 18,070 crore. Additionally Learn: Delhivery IPO opens right this moment: Value band, subscription dates and 5 key issues to know earlier than bidding
As of March 31, 2022, Vodafone Thought`s money and money equal stood at Rs 1,460 crore whereas the corporate`s web debt stood at Rs 1,96,420 crore. Additionally Learn: Swiggy scales down Supr Day by day operations in 5 metropolitan cities; right here’s why
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