Vodafone Idea Ltd.'s share price surged over 3% on Tuesday after the company posted its second quarter results.
The company reported a narrower net loss in the second quarter of the current fiscal year. Consolidated net loss came in at Rs 5,524 crore for the July–September period, compared to Rs 6,608 crore in the previous quarter, according to results announced on Monday.
Operating revenue rose 1.6% sequentially to Rs 11,195 crore. The average revenue per user (ARPU), a key performance metric, climbed nearly 9% year-on-year to Rs 180, driven primarily by customer upgrades and tariff hikes.
Vodafone Idea's 4G/5G subscriber base rose to 127.8 million from 125.9 million in Q2FY25. The telco's 4G network coverage expanded to 84.4% of the population
The debt from banks stood at Rs 15,300 crore at the end of September and the cash and bank balance stood at Rs 30,800 crore. "As of date, the Group has met all its debt obligations payable to its lenders/ banks and financial institutions along with applicable interest. The company is in discussion with banks to raise additional funds as required," a statement said
The scrip rose as much as 3.37% to Rs 9.82 apiece. It pared gains to trade 2.21% higher at Rs 9.71 apiece, as of 09:40 a.m. This compares to a 0.25% decline in the NSE Nifty 50 Index.
It has risen 25.67% in the last 12 months. Total traded volume so far in the day stood at 0.29 times its 30-day average. The relative strength index was at 56.51.
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