Vodafone Idea Q2 revenue declines 0.5% as subscriber losses hurt

Indian telecom operator Vodafone Idea Ltd reported a 0.5% drop in second-quarter revenue on Thursday, as subscriber losses to rivals overshadowed benefits from a move to hike tariffs last year.

The company's subscriber base slipped to 271.8 million subscribers as of September-end from 311.1 million subscribers a year ago, indicating a decline in market share for the joint venture between Vodafone Group and India's Idea Cellular.

The debt-laden company re-branded itself last month and approved a fundraise of up to Rs 25,000 crore ($3.38 billion), as it looks for ways to pay about Rs 50,000 crore in government dues.

Quarterly average revenue per user at the country's third-largest telecom operator came in at Rs 119, compared with Rs 107 a year earlier.

The loss-making firm's 4G subscriber base stood at 106.1 million for the period, compared with 104.6 million in the first quarter ended June 30.

Consolidated revenue fell to Rs 10,791 crore from Rs 10,844 crore a year earlier.

Consolidated loss came in at Rs 7,218 crore for the period ending Sept. 30, compared with a loss of Rs 50,922 crore a year earlier.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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