Vodafone Idea Q4 net loss narrows to Rs 6,419 crore in FY23


NEW DELHI: Debt wracked Vodafone Idea announced Thursday that its consolidated net loss narrowed to 6,418.9 crore for the fourth quarter ended March 2023.
The company posted a loss of Rs.6,563.1 crore in the same period last year.
Service revenue increased about 3 percent to Rs.10,506.5 crore in the quarter from Rs.10,228.9 crore in the March quarter of 2022, the company said in a regulatory filing.
Vodafone Idea (WILL) reported widening loss to Rs.29,297.6 crore for the year ended 31 March 2023.
The company posted a consolidated loss of 28,234.1 crore in 2021-22.
VIL recorded its first annual post-merger revenue growth from services. Sales rose 9.4 percent to Rs.42,133.9 crore compared to Rs.38,489.5 crore last year.
VIL’s capital expenditure for the quarter was Rs.560 crore for a total of Rs.3,360 crore for FY23.
Its total gross debt (excluding lease liabilities and including interest accrued but not due) decreased to Rs -Contributions to equity issued to the government.

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