Vodafone Idea's Q4 net loss widens to Rs 6,985 cr

Mumbai, June 30 Vodafone Idea on Wednesday reported a consolidated net loss of Rs 6,985.1 crore for the January-March quarter.

During the October-December quarter, the company had reported a net loss of Rs 4,540.8 crore.

Its total revenue for the fourth quarter of FY21 was Rs 9,607.6 crore.

Vodafone Idea Ltd MD & CEO Ravinder Takkar said: "FY21 has been a transformational year for Vodafone Idea with several important milestones achieved including launch of our unified brand 'Vi'. We enter FY22 with renewed focus on executing our strategy to keep our customers ahead, and our cost optimisation plan remains on track to deliver the targeted savings."

He also said that the company is in active discussion with potential investors for fund raising, to achieve its strategic intent.

In a statement, the company said that it continues to invest in 4G to increase its coverage and capacity.

"We have also started to actively upgrade our 3G network to 4G. During the year, we added 43,500 4G FDD sites primarily through reframing of 2G/3G spectrum to expand our 4G coverage and capacity," it said.