Vodafone Idea Loss Narrows in 2nd Quarter: The Hindu

Debt-ridden telecom operator Vodafone Idea narrowed its consolidated loss to 71.4 billion rupees ($960 million) for the second quarter ended September 30, The Hindu reported.

The company had posted a loss of 72.18 billion rupees in the corresponding quarter of the previous financial year. Consolidated revenue during July-September 2021 fell 13% to 94.06 billion rupees, compared with 107.9 billion rupees in the year-ago period.

Total gross debt stood at 1.94 trillion rupees, comprising deferred spectrum payment obligations of 1.08 trillion rupees and government liabilities of 634 billion rupees.

Read the full report: The Hindu

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.