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Vodafone Idea shares up over 6% as losses narrow in Q2

The share touched its 52-week high Rs 13.45 and 52-week low Rs 2.61 on 04 September, 2020 and 15 November, 2019, respectively.

October 30, 2020 / 09:49 AM IST
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Vodafone Idea share price added over 6 percent intraday on October 30, a day after the company reported its results for the quarter ended September 2020.

The debt-ridden telecom firm reported narrowing of its consolidated loss to Rs 7,218.2 crore for the quarter ended September 2020.

Vodafone Idea had posted a loss of Rs 50,897.9 crore in the same quarter of the previous fiscal on account of making provisions for statutory due payments.

Total income declined by about 3 percent to Rs 10,830.5 crore during the reported quarter, from Rs 11,146.4 crore in the corresponding period of 2019-20.

Vodafone Idea MD and CEO Ravinder Takkar said while challenges related to COVID-19 continue, the second quarter showed signs of recovery with a gradual improvement in economic activities.

At 09:36 hrs, Vodafone Idea Limited was quoting at Rs 8.90, up Rs 0.55, or 6.59 percent on the BSE.

The share touched its 52-week high Rs 13.45 and 52-week low Rs 2.61 on 04 September 2020 and 15 November 2019, respectively.

Currently, it is trading 33.83 percent below its 52-week high and 241 percent above its 52-week low.

The share price jumped 131 percent in the last 1 year.

With inputs from PTI

Moneycontrol News
first published: Oct 30, 2020 09:49 am