Business Standard

Vodafone Idea stock plunges over 26% on weak June quarter result

Since launch of minimum service recharge plans firm loses 67 mn subscribers

vodafone idea
Premium

Romita Majumdar Mumbai
Reacting to the weak June quarter (Q1) results announced by Vodafone Idea on Friday, the shares of the telco fell by 26.8 per cent on the BSE on Monday. The Street reacted to the 4 per cent sequential fall in revenues, a result of the firm’s strategy to weed out low-revenue customers by implementing minimum recharge plans.

The move to weed out low-revenue users cost the telco 14 million subscribers in Q1 and analysts predict further erosion, as they feel the strategy may have backfired. The minimum recharge plans kicked in around November last year. Since the December quarter of

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 29 2019 | 11:26 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com