Vodafone Idea plunges 24% as SC raps telcos for non-payment of dues

The average revenue per user (ARPU) came at Rs 109 against Rs 107 (QoQ) supported by an improved consumer mix.

February 14, 2020 / 05:34 PM IST
 
 
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Vodafone Idea share price erased all its morning gains and slipped 24 percent intraday on February 14 after the Supreme Court rapped the telecom companies for non-payment of dues.

The apex court also pulled up the Department of Telecommunications for not complying with the court’s October 2019 judgement related to the payment of AGR dues worth over Rs 1 lakh crore to the government.

The telcos have been asked by the top court to pay up by March 17.

In the morning trade the share price surged 15 percent ahead of fresh plea hearing in the Supreme Court for payment of AGR dues.

The company has reported a loss of Rs 6,453.2 crore for the December quarter of FY20 against a loss of Rs 5,004.6 crore posted in the corresponding quarter of the previous financial year.

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Revenue for the same quarter came in at Rs 11,089.4 crore in Q3FY20, down 5.7 percent year-on-year (YoY), against Rs 11,764 crore in Q3FY19.

Revenue grew 2.3 percent QoQ, supported by strong growth in 4G additions, while average daily revenue (ADR) returned to growth after 14 quarters of decline, the company claimed.

EBITDA for the quarter increased to Rs 3,420 crore, up 0.7 percent QoQ driven by higher revenue and incremental synergy realisations. EBITDA margin stood at 11.6 percent against 10.2 percent in Q2FY20.

The average revenue per user (ARPU) came at Rs 109 against Rs 107 (QoQ) supported by an improved consumer mix.

At 14:55 hrs Vodafone Idea Limited was quoting at Rs 3.42, down Rs 1.06, or 23.66 percent on the BSE.
Moneycontrol News
first published: Feb 14, 2020 02:55 pm

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