There was a loss of Rs 7218.5 crore in the September quarter
The company had a loss of Rs 7218.5 crore in the September quarter. This decrease in the company’s losses in the third quarter came from selling its 11.5 per cent stake in Indus Towers for Rs 2118.9 crore. Indus Towers was merged with Bharti Infratel, after which the company sold its stake in it.
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Company’s ARPU improves
In the December quarter, the company has improved its revenue per user (ARPU) and has increased to Rs 121 per user, compared to Rs 109 in the September quarter. Also, before paying taxes and interest to the company, EBITDA margin increased by 3.2 percent to Rs 4286.2 crore on a quarterly basis. At the same time, the company’s operating margin improved 80 basis points to 39.3 per cent. The company’s EBITDA has improved due to cost-cutting measures and increased revenue.
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1% increase in revenue
The company’s revenue increased by 1 percent to Rs 10894 crore in the December quarter. The company said that the increase in its revenue has come due to increase in new 4G connections and improvement in service quality. The company said that its board of directors has approved raising 25 thousand crore rupees through debt and equity. The company had earlier set a cost saving target of Rs 4 thousand crore, in which the company has achieved 50 percent target in the December quarter. However, the company’s subscriber base in the third quarter was reduced by 20 lakhs to 26.98 crores.