Vodafone Idea shares were down nearly 3 percent in the morning trade on September 28 after the monthly subscription data for July, published by the Telecom Regulatory Authority of India (TRAI), noted a loss of 13.2 lakh subscribers for the company.
The TRAI report for June had observed a loss of 12.9 lakh subscribers from Vodafone Idea. As per the recent numbers for July, the company’s market share in the wireless subscribers segment now stands at 19.92 percent.
TRAI's outgoing chairman PD Vaghela in an interview with CNBC-TV18 on September 27th said,"We are worried that BSNL and Vodafone Idea are successively losing their subscriber base. This might be because both haven't been able to roll out 5G services."
At 10 am on the NSE, the Vodafone Idea stock was quoting at Rs 11.80 apiece, down Rs 0.20, or 1.67 percent.
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In its results for the April-June quarter, the company reported a 2.36 percent YoY (year-on-year) increase in revenue from operations at Rs 10,656 crore. The company continued to report a loss making quarter with the net losses for Q1FY24 at Rs 7,840 crore against a loss Rs 7,297 crore reported in Q1FY23.
Vodafone Idea is engaged in the business of providing telecommunications services. It operates in India and offers a range of services including mobile voice and data services, as well as enterprise solutions for businesses.
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