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Vodafone Idea Q1 loss expands to Rs 25.46 billion

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NEW DELHI: Telecom operator Vodafone Idea on Thursday posted a massive loss of Rs 25.46 billion for the first quarter ending June 2020 due to provisions for legal fees. The company had reported a loss of Rs 4,874 crore in the same period last year.
In a regulatory filing, the debt-laden telecommunications company said it recognized an additional charge of Rs 19,440.5 crore in the June quarter for AGR (adjusted gross income) liabilities.
The company’s revenue from operations also decreased 5.4 percent to Rs 10,659 crore in the first quarter from Rs 11,269 posted in the same last fiscal quarter.
Vodafone Idea shares closed 0.72 percent lower at Rs 8.25 on the BSE, while they stabilized at Rs 8.30 on the NSE.

Times of India

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