Vodafone Idea Shares Surge as Losses Narrow in Q2

Vodafone Idea's shares rose by nearly 8% as the telecom company reported a narrowed net loss of Rs 5,524 crore in the September quarter, aided by reduced finance costs and a tariff hike. Despite improvements, challenges remain with declining subscriber numbers and substantial debt.

Shares of Vodafone Idea experienced a significant jump, climbing nearly 8% on Tuesday, following the announcement of a reduced consolidated net loss of Rs 5,524 crore for the September quarter.

The stock rose 7.68% on the BSE, closing at Rs 10.24, while on the NSE, it increased by 7.26% to Rs 10.19 per share. Trading volumes reached 196.20 crore shares on the NSE and 17.07 crore on the BSE.

The improvement in financial results is attributed primarily to a reduction in finance costs and an increase in the average revenue per user, largely driven by recent tariff hikes. However, Vodafone Idea continues to face challenges with a declining subscriber base and substantial debts.

(With inputs from agencies.)