Vodafone Idea, India’s largest telecommunications operator, on Wednesday reported a net loss of Rs 5,005.7 crore for the October-December 2018 quarter, the company said in a corporate filing. This was higher than the Rs 4,950.5 crore the firm had reported in the July-September quarter, but lower than analysts’ expectations.
Vodafone India had reported a loss of Rs 1,284.5 crore in the October-December 2017 quarter. However, this is not comparable to the loss in the subsequent period for 2018-’19, because Vodafone and Idea completed a merger on August 31, 2018.
Vodafone Idea’s total income for the October-December period stood at 11,982.80 crore, 52% more than the Rs 7,878.6 crore it reported in the second quarter. Vodafone’s income stood at Rs 6,551.6 crore in the third quarter for 2017-’18.
“We remain focused on fortifying our position in key districts by expanding the coverage and capacity of our 4G network, and target a higher share of new 4G customers, while offering an enhanced network experience to our customers,” Vodafone Idea Chief Executive Officer Balesh Sharma said, according to PTI. “The proceeds from the announced capital raise will put us in a strong position to achieve our strategic goals.”
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