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The debt burden suppressed telecom operator Vodafone Idea(VI) reported a great widening
of its consolidated loss to 7,320.9 crore rupees on Friday for the third quarter ended
December 2021. The company had posted for a massive loss of 4,52.1 crore rupees in the
last year of 2020.
The VIL, MD, and CEO Ravinder Takkar in the statement said “ we are pleased to announce
a second consecutive quarter of revenue growth that has been driven by several tariffs
interceptions took in the last few months”.
Although the overall subscriber base of the company has declined regressively due to the
interventions, the 4G base of subscribers has remained the same due to the superior data
quality and voice experience of VI GIGAnet, Takkar added.
The average revenue per unit for the quarter rose to 5.2% of 115 rupees on the basis of the recent report. On the other hand. The company lost a big amount of 5.8 million customers in the same period. The company added in their statement that they were able to achieve 90 per cent of their savings target on a run-rate basis in the Q3 quarter of the financial year of 2022 against the 4,000 crore rupees added savings target. As of December end, the loss of the company accounted to be 1.98 trillion rupees.
The debt-ridden corporation of Vodafone Idea has decided to opt to pay interest of around
16,000 crore rupees through the shares to the government. This decision taken by the
company will result in the holding of the government in the company to rise in the holding
35.8 per cent stake.