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  5. Vodafone Idea shares gain over 12% over potential relief on AGR dues

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Vodafone Idea shares gain over 12% over potential relief on AGR dues

Upstox
By Upstox News Desk

2 min read | Updated on May 24, 2024, 15:29 IST

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SUMMARY

Vodafone Idea, also known as Vi, is planning to roll out 5G services. On Thursday, reports suggested Swedish telecommunications equipment maker Ericsson is holding a discussion with the telecommunications company to secure orders for 4G and 5G equipment.

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IDEA
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Vi had reported a consolidated net loss of ₹7,674.6 crore in the latest March quarter.

Shares of Vodafone Idea Limited surged more than 12% after analysts suggested that the company's adjusted gross revenue (AGR) dues can decline by around 46%, which translates to ₹38,400 crore, if the mobile network operator receives relief on a curative petition filed in Supreme Court.
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The stock rallied as much as 12.1% to hit an intraday high of ₹15.7 on the NSE. It later pared some gains to trade at ₹15, up 7.1%.

The company's total market capitalisation (m-cap) stood at ₹1 lakh crore, while its free-float m-cap was ₹16,009 crore.

Vodafone Idea, also known as Vi, is also planning to roll out 5G services. On Thursday, reports suggested Swedish telecommunications equipment maker Ericsson is holding a discussion with the telecommunications company to secure orders for 4G and 5G equipment.
"Vodafone Idea is our partner, and we are in discussions with them. We are hopeful that when they launch 5G, we will be supporting them in their rollouts," Nitin Bansal, Managing Director of Ericsson India, had told Moneycontrol.

Vi had reported a consolidated net loss of ₹7,674.6 crore in the latest March quarter as against a net loss of ₹6,418.9 crore in the same period the previous year.

Also Read: Vodafone Idea approves allotment of ₹2,075-crore shares to Aditya Birla Group arm

The revenue from operations marginally increased to ₹10,606 crore in Q4 FY24 from ₹10,531 crore in the year-ago period.

The average revenue per user (ARPU) of Vi climbed to ₹146 in the quarter ended in March 2024 compared to ₹145 in the December quarter and ₹135 in Q4 FY23.

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Upstox
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