Vodafone Idea dips 5% as loss widens in Q3; stock down 33% from 52-wk high

While government relief (option of conversion of dues into equity) ensures the survival, the company needs to raise capital as early as possible to stay competitive, ICICI Securities said.

Shares of Vodafone Idea dipped 5 per cent to Rs 11.03 on the BSE in Monday's intra-day trade after the company's losses widened 59.5 per cent to Rs 7,230 crore in Q3FY22 on a year-on-year (YoY) basis amid fall in revenue and subscribers. In the same period last year, the company had posted a loss of Rs 4,532 crore.

With today's decline, the stock of the telecom services provider has corrected 33 per cent from its 52-week high of Rs 16.79 touched on December 10, 2021. At 09:34 am, the stock was down 4 per cent at Rs 11.40