Vodafone-Idea registers Rs7,022.8-cr Q4FY21 net loss
01 July 2021
Vodafone Idea Ltd has reported a consolidated net loss of Rs7,022.8 crore for fiscal fourth quarter ended 31 March 2021, against a loss of Rs11,643.5 crore in the corresponding quarter of FY20. Vodafone Idea had reported a loss of Rs4,532.1 crore in the third quarter of FY21.
Revenue for January-March 2021 quarter stood at Rs9,607.6 crore, down 18.26 per cent compared to Rs11,754.2 crore in the January-March 2020 quarter. The company had reported Rs10,894.1 crore revenue in the October-December 2020 quarter.
For fiscal 2020-21, Vodafone Idea reported a net loss of Rs44,233.1 crore compared to Rs73,878.1 crore for FY20.
“The Company’s financial performance has impacted its ability to generate the cash flow that it needs to settle/ refinance its liabilities and guarantees as they fall due, which along with its financial condition is resulting in material uncertainty that casts significant doubt on the Company’s ability to make the payments mentioned therein and continue as a going concern,” the company stated in a release.
Vodafone Idea saw its average revenue per user (ARPU) drop significantly in Q4 FY21 as also a higher subscriber churn rate, increasing the the loss for the countrys third-largest telecom operator. Vodafone Idea has incurred a total loss of Rs44,233.1 crore in the entire FY21 and its net worth stands at a negative Rs38,228 crore.
In its filing with the Bombay Stock Exchange (BSE), Vodafone Idea said it is currently in talks with potential investors over fundraising.