Vodafone Idea net loss narrows; share gains 6 per cent

The share price of Vodafone Idea increased more than 6 per cent today after the company reported its results for the quarter ended September 2020.

The company reported a net loss of Rs 7,218.20 crore in Q2FY21 as against Rs 50,921.90 crore during Q2FY20. It reported net sales at Rs 10,791.20 crore in Q2FY21, down by 0.49 per cent from Rs 10,844.00 crore in Q2FY20.

The subscriber base of the company declined to 271.8 million in the quarter ended September 2020 from 279.8 million in the quarter ended March 2020. The average revenue per user (ARPU) for Q2FY21 improved to Rs 119 compared to Rs 114 in Q1FY21.

At the end of the Q2FY21, the 4G subscriber base stands at 106.1 million against 104.6 million in Q1FY21.

The stock of Vodafone Idea has recovered by 197.33 per cent from its sharp decline in March 2020. It made an intraday high of Rs 8.92 today.

The stock has a 52-week high and a 52-week low of Rs 13.45 and Rs 2.61, respectively.

At 2.07 pm today, the share of Vodafone Idea was trading at Rs 8.42, up by 0.48 per cent on BSE.