New Delhi: Telecom operators driven by Vodafone’s idea on Wednesday reported narrowing of consolidated losses to Rs 7,022.8 Crore for the quarter that ended March 2021, mainly due to cost optimization.
The idea of Vodafone (VI) has posted a loss of Rs 11,643.5 Crore in the same period last year.
Total revenue decreased by around 19 percent to RS 9,647.8 Crore from Rs 11,920.4 Crore in the appropriate quarter of 2019-20.
“We entered the financial year of 2022 with a new focus on executing our strategies to keep our customers ahead, and our cost optimization plan remains on track to provide targeted savings.” We are in active discussions with prospective investors for our fundraising, to achieve our strategy.
Intention, “said Vi MD and CEO of Ravinder Takkar in a statement.
The company associated a decrease in revenue to the elimination of domestic interconnection using the effects of January 1, 2021 and around 2.2 percent included a lower number of days in the quarter.
For the year ending On March 31, 2021, the company’s loss narrowed to Rs 44,233.1 Crore from Rs 73,878.1 Crore in 2019-20.
The total consolidated annual income decreased by around 8 percent to RS 42.126.4 Crore from RS 45,996.8 Crore a year ago.
Debt Dirty (excluding lease obligations) on March 31, 2021 reached Rs 1,80,310 Crore.
This consists of the spectrum payment obligations suspended at 96,270 crore, AGR (adjustable gross income).
60,960 crore and debt from the Bank and Financial Institutions 23,080 crore.
VI said it expects annual cost savings of 4,000 crore at the end of 2021 through the cost optimization exercise.
“After be Rears to achieve the synergy of MURGER OPEX targeted at RS 84 billion, we have conducted cost optimization exercises throughout the company in accordance with developing industrial structures and business models.
“We are targeting to reach Rs 40 billion annual cost savings at the end.
This calendar year, “said the statement.
The customer base from the company fell to 26.78 crores during the quarter reported.
However, it gets 42 new 4G Lakh customers.
At the end of the quarter, the 4G VI customer base was 11.39 crores.
(Compared With 10.97 Crores in the previous quarter).
The data volume witnessed healthy growth of 8.2 percent a quarter per quarter, driven by an additional 4G, the statement said.
VI’s capital expenditure during the quarter was Rs 1,540 Crore and Rs 4,150 Crore for the full year.
“The total number of our broadband sites reached 4,52,650 on March 31, 2021 compared to 4,36,006 a year ago.
We have closed more than 30,000 3G sites during the year while we added more than 47,000 4G sites, “he said.
The idea of Vodafone lost Q4 narrowed to Rs 7,023 Crore
