Drowning Vodafone got big relief, revenue increased by more than 9 percent in the year, thus reducing losses

Vodafone IdeaImage Credit source: Symbolic picture

For the first time, there has been an increase in the revenue of Vodafone Idea Limited, the country’s third largest private telecom company. Which is a big relief for the company. At the same time, there has also been a decline in the losses of the company. In fact, the company released its quarterly results on Thursday. In which some relief figures were seen for the company. On the basis of these figures, the company’s shares have seen a rise of up to three and a half percent in the stock market on Friday. Let us also tell you how the figures have been released by the company.

Company’s loss reduced in the quarter

In the fourth quarter of the financial year 2022-23, also known as the March quarter, the debt-ridden telecom company Vodafone Idea Limited ie VIL reduced its loss to Rs 6,418.9 crore. According to the information given to the stock market by VIL, the company had seen a loss of Rs 6,563.1 crore in the same period a year ago. If we talk about the entire financial year, then there has been an increase in the loss of the company. According to statistics, the loss of Vodafone Idea increased to Rs 29,297.6 crore in the financial year 2022-23, while the company’s loss in the financial year 2021-22 was Rs 28,234.1 crore.

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increase in revenue

On the other hand, at the level of the financial year, Vodafone Idea has won on the revenue front. According to statistics, VIL’s revenue has increased by 9.4 percent in the financial year 2022-23 and has reached a figure of Rs 42,133.9 crore. On the other hand, there has also been a decline in the debt of the company, which came down to Rs 2.09 lakh crore as on March 31. It was Rs 2.23 lakh crore at the end of the December 2022 quarter. There has been an increase of about three percent in the earnings of the company from the service and the figure has come to Rs 10,506.5 crore. In the same period of the last financial year, this figure was Rs 10,228.9 crore.