Vodafone Idea Shares Dip 11% After the Announcement of Maiden Financial Results

Follow Us

Shares of Vodafone Idea on Thursday plunged 11% after the telecom services provider reported a consolidated loss of Rs 4,973 crore for the September quarter. The stock, which had opened on a weak note, dived 11.10% from the previous close to Rs 36.85 on the BSE. During the trading session, it had hit a low of Rs 36.30 and a high of Rs 40.45. Similar movement was seen on the NSE, where the scrip cracked 10.63% to close the trading session at Rs 37. Intra-day, the stock had fallen by 12.43% to Rs 36.25.

vodafone-idea-shares-drop




On the volume front, nearly 35 lakh shares of the company were traded on the BSE, while over five crore shares changed hands on the NSE.

Besides Vodafone Idea, shares of other telecom companies also ended in the red despite the BSE's benchmark Sensex settled 118.55 points up at 35,260.54.

The stock of Tata Communications fell 1.92% to close at Rs 514.95 on the BSE, Mahanagar Telephone Nigam dropped 1.74% to Rs 13.54 and Reliance Communications slipped 1.75% to Rs 13.44.

Vodafone Idea, in a regulatory filing to the stock exchanges Wednesday, posted a consolidated loss of Rs 4,973 crore for the September quarter in its maiden financial results post-merger.

It reported consolidated revenue of Rs 7,663 crore for July-September 2018. Besides, the company said it is looking to raise about Rs 25,000 crore, in which promoters Vodafone Group will contribute Rs 11,000 crore and Aditya Birla Group Rs 7,250 crore.

Recent Comments

TheAndroidFreak :

What kind of logic is this? Band 28 is exclusively used for coverage and not for speeds. They have mmwave…

Reliance Jio Posts Rs 5583 Crore Net Profit in Q4…

TheAndroidFreak :

Band 28 is just for VoNR and coverage. There is no other usage. Inside home, 20-50Mbps on an average. ARPU…

Reliance Jio Posts Rs 5583 Crore Net Profit in Q4…

TheAndroidFreak :

This is not going to happen. Vi is empty network everywhere now. 33 crore to less than 20 crore within…

Vodafone Idea Needs Tariff Hikes: Analysts

bharat khanna :

where are the plans?no details , whats new whats changed?

Airtel Introduces Affordable International Roaming Packs for Seamless Travel Connectivity

Jobins :

Vi should decrease the tariff somewhere near to Jio's. So it can grab users from Airtel and Jio.

Vodafone Idea Needs Tariff Hikes: Analysts

Load More
Subscribe
Notify of
17 Comments
newest
oldest most voted
Inline Feedbacks
View all comments