New Delhi, May 16 (IANS) Shares of telecom operator Vodafone Idea jumped sharply on Monday, rallying over 12 per cent at the time of writing this report.
At 3.12 p.m., the shares of the company traded at Rs 9.5, up 13.2 per cent from the previous closing, data showed.
Monday’s rise is its sharpest intra-day rally during calendar year 2022.
The rise was possibly because of the company’s narrowing of its losses.
The telecom service provider’s losses narrowed 6.5 per cent to Rs 6,563 crore on a year on year basis in Q4FY22 led by revenue growth.
Besides, earnings before interest depreciation tax and amortization (EBITDA) rose 5.4 per cent year on year to Rs 4,649 crore.
Also, the company’s average revenue per user or (ARPU) improved to Rs 124, up 7.5 per cent on a quarterly basis from Rs 115 in Q3FY22. The ARPU rose due a tariff hike of around 20 per cent it took in November 2021.