Latest News | VIL Q4 Losses Narrow to Rs 6,563 Cr

New Delhi, May 10 (PTI) Telecom operator Vodafone Idea on Tuesday reported narrowing of its consolidated losses to Rs 6,563.1 crore for the fourth quarter ended March compared to same period of the previous year, while its realisation per user or ARPU improved sharply on a sequential basis.

The losses were at Rs 7,022.8 crore in the year-ago period, according to a company filing.

Also Read | 2022 Mercedes-Benz C-Class Launched in India at Rs 55 Lakh.

Its revenue from operations rose 6.6 per cent year-on-year to Rs 10,239.5 crore in Q4 FY22.

Seen sequentially, the revenue was up 5.4 per cent, supported by tariff hikes effective November 25, 2021, the company said in a statement.

Also Read | Vivo X80 Series India Launch Set for May 18, 2022; Teased on Flipkart.

The realisation per user measured in terms of ARPU came in at Rs 124, rising from Rs 115 in the prior quarter. This resulted in sequential increase of 7.5 per cent in Average Revenue Per User (ARPU).

For the full year FY22, the losses narrowed sharply to Rs 28,245.4 crore, from Rs 44,233.1 crore in the previous financial year.

Revenue from operations for the year ended March 2022 came in at Rs 38,515.5 crore.

Ravinder Takkar, MD and CEO of Vodafone Idea, said, "We are pleased to announce third consecutive quarter of revenue growth driven by tariff interventions taken in November 2021."

Takkar added: "We successfully completed first tranche of fund raising in the form of preferential equity contribution of Rs 45 billion from our promoters".

The company continues to actively engage with lenders and investors for further fund raising, he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)