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Vodafone-Idea shares tank on weak Q1 results, decline in user base

Jul 29, 2019 14:30 IST

Vodafone-idea shares tanked more than 26% in trade after the telco reported a weak earnings in the first quarter of financial year 2020. India's largest telecom operator reported a net loss of ₹4,874 crore with the revenue slipping over 4% from the last quarter. Financial advisory firm Jefferies has cautioned that the firm may continue losing subscriber base and its average rate per user will also decline due to slow expansion of network coverage. The firm has lost 11.5 crore subscribers in the past year.