Vodafone- Idea reports a consolidated net loss of Rs 7,022.8 crore for the quarter ending March 31, 2021, as compared to a loss of Rs 4532.1 crore in the December 2020 quarter.
FY21, Vodafone Idea reports a loss of Rs 44,233.1 crore in comparison to Rs 73,878.1 crore for FY20.
The company has also issued a concerning statement about the Company’s financial performance. Moreover, the company is not in a situation to meet the requirements of revenue generation. As a result, the company is trying all its possible efforts to settle its liabilities and guarantees which they have. The financial condition is not good and has significant doubt on the Company’s ability to make the payments mentioned as said in the release.
Idea stock is trading 9.20, down by more than 8.5% today. We don’t recommend buying or investing in Idea until and unless any major fundamental recovery is seen in it.