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Empty coffers, fleeing users: Everything gets bad to worse for Vodafone Idea

The company said it lost 60 lakh subscribers during the quarter, almost double of 34 lakh it lost in the previous quarter. Its customer base now stands at 23.44 crore, which is nearly half of that of Reliance Jio

NOIDA / November 09, 2022 / 01:05 PM IST
 
 
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Nothing is going good for Vodafone Idea.

The telecom major is bleeding money faster than it ever suffered and at a time when the coffers are running dry. In the second quarter of fiscal 2023, the losses for the telecom major widened to nearly Rs 7600 crore. Along with that it has not been able to raise money and now there is a very good chance that it will lag its peers in 5G rollout, which is likely to be capex heavy.

No wonder analysts tracking the stock are unanimous in their verdict: don’t touch it; and if you own any, dump it as soon as possible.

Customers fleeing