VI shares tumble over 5 pc after Q3 loss widens
Shares of VI tumbled over 5 per cent in early trade on Monday after the company reported widening of its consolidated loss to Rs 7,230.9 crore for the third quarter ended December 2021.
The telecom operator’s stock tanked 5.46 per cent to Rs 11.25 on the BSE. At the NSE, it tumbled 5.06 per cent to Rs 11.25.
The earnings were announced post market hours on Friday. The company had posted a loss of Rs 4,532.1 crore in the same period a year ago.
Consolidated revenue from operations declined by 10.8 per cent to Rs 9,717.3 crore, from Rs 10,894.1 crore in the year-ago period.
Its subscriber base declined to 24.72 crore, from 26.98 crore in the same quarter a year ago, because of tariff hikes by the company.
Article Proofread & Published by Gauri Malhotra.
