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Vodafone Idea Q1 loss widens to Rs 4,908 crore QoQ

Vodafone Idea’s net loss narrowed to Rs 4,873.9 crore for the April-June quarter, helped by a change in accounting standard and lower operating costs, but revenue dropped 4.3%, as some subscribers left and others moved to lower tariff plans. The adoption the Ind AS 116 accounting standard resulted in a positive impact of Rs. 1.2 billion at PAT (profit after tax) for the quarter. Ind-AS 116 enables companies to recognise leases (towers in this case) as assets in the balance sheet from April 1, 2019, and as such, the relevant lease rentals do not get reflected in the network opex.

Read More at The Economic Times News date : 27 Jul 2019, Saturday

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