Synopsis
The telco reported a narrower net loss for the quarter, while its key parameters such as average revenue per user, minutes of use and subscriber base continued to trail rivals Bharti Airtel and Reliance Jio. Its shares closed 2.3% lower at Rs11.80 on the BSE Tuesday.
Agencies
Kolkata:
Vodafone Idea (Vi) will deploy cash from its upcoming Rs 25,000 crore fundraise to boost 4G coverage in its 16 priority circles to effectively combat Reliance Jio and
Bharti Airtel and rein in customer losses.
Vi’s top management, at a quarterly earnings call, said the upcoming “fund raise capital would be used to increase coverage in the 16 priority circles, which contribute to 94% of the telco’s revenues,” BofA Securities, which participated in the call, said in a note seen by ET.