Vi losses narrow to 6,986 cr in Dec qtr on one-time gain

Debt-laden Vodafone Idea's losses narrowed to 16,986 crore in the quarter ended December 2023, from 17,990 crore a year ago, helped largely by a gain of ₹755 crore from a favourable order on a litigation with the government.

The telecom company's chief executive said that it continued to endeavour to raise funds as part of its business revival plan and for making investments for the launch of its 5G services.

Vodafone Idea, the country's third-largest telecom firm by subscriber base, reported a revenue of 10,673 crore in the three-month period, marginally higher than 10,620 crore in the same period last year.

Earnings before interest, tax, depreciation and amortisation (Ebitda) rose to ₹4,350 crore, up from 4,180 crore, while margins rose to 40.8% in the December quarter, from 39.4% a year ago.