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Published on 6/08/2020 4:49:50 PM | Source: Reuters

Vodafone Idea reports wider quarterly loss

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BENGALURU  - Vodafone Idea Ltd reported a bigger first-quarter loss on Thursday, as the Indian telecom operator set aside 194.41 billion rupees towards dues owed to the government.

The company, a joint venture between Britain's Vodafone Group and billionaire Kumar Mangalam Birla's Idea Cellular, said consolidated revenue from operations fell to 106.59 billion rupees during the quarter ended June 30, compared with 112.70 billion rupees a year earlier.

The country's third largest telecom operator by subscribers reported its eighth consecutive quarterly loss of 254.6 billion rupees, compared with a loss of 48.74 billion rupees a year earlier. 

(Reporting by Philip George in Bengaluru; Editing by Shinjini Ganguli)