Vodafone Idea today reported its net loss marginally narrowed to ₹7,297 crore for the quarter ended June 30, 2022. It reported net loss of ₹7,319 crore in the preceding quarter. The telco’s revenue from operations rose 14% to ₹10,410 crore as against ₹9,152 crore in Q1FY22.
Ravinder Takkar, the managing director (MD) and chief executive officer (CEO) of telecom operator Vodafone Idea Limited (Vi), will replace Himanshu Kapania as the telco’s new chairman from 19 August.
“The board unanimously elected Ravinder Takkar, as chairman of VIL board, effective August 19, 2022…it (also) accepted the request of Himanshu Kapania, to step down as non-executive chairman with effect from August 18,” Vi said in a BSE filing on Wednesday. The telco said that Takkar would bring in his 30 years of experience in guiding the company, in his role as chairman.
Kapania will step down as non-executive chairman of the board with effect from 18 August this month. However, he will continue to be a part of the VIL board as a non-executive director. Vi stated that the request for this was made by Kapania himself.
Last month, Vi had announced that its chief financial officer Akshaya Moondra would replace Takkar as firm’s new CEO. That was then the third top-level change in under four years at the loss-making telco, which has been fighting to turn around its operations amid a severe cash crunch.
Meanwhile, Vodafone Idea today reported its net loss marginally narrowed to ₹7,297 crore for the quarter ended June 30, 2022. It reported net loss of ₹7,319 crore in the preceding quarter. The telco’s revenue from operations rose 14% to ₹10,410 crore as against ₹9,152 crore in Q1FY22.
Average revenue per user (ARPU) for the June quarter came in at ₹128 versus ₹104 in Q1FY22, up 23.4% aided by tariff hikes.
