Vodafone Idea Share Price Spikes Nearly 9% After Q1 Profit Narrows
The average revenue per user rose 1.1% to Rs 177. It stood at Rs 175 in the preceding quarter.
Vodafone Idea Ltd.'s share price spiked 8.78% on Monday after the company posted its first quarter results on Thursday.
Vodafone Idea Ltd.'s consolidated net loss reduced in the first quarter to Rs 6,608 crore in comparison to a loss of Rs 7,166 crore in the last quarter of the previous fiscal.
Revenue increased 0.1% sequentially for the three months ended June, reaching Rs 11,023 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 1% quarter-on-quarter to Rs 4,612 crore. The Ebitda margin contracted to 41.8%.
The average revenue per user—a key metric to assess a telco's financial health—rose 1.1% to Rs 177. It stood at Rs 175 in the preceding quarter.
The scrip rose as much as 8.78% to Rs 6.69 apiece. It pared gains to trade 4.88% higher at Rs 6.45 apiece, as of 12:16 p.m. This compares to a 1.02% advance in the NSE Nifty 50 Index.
It has fallen 59.56% in the last 12 months. Total traded volume so far in the day stood at 2.4 times its 30-day average. The relative strength index was at 40.
Out of 21 analysts tracking the company, four maintain a 'buy' rating, six recommend a 'hold,' and 11 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an downside/upside of 10%
