Vodafone Idea posts quarterly loss of Rs 49 bn, says to raise $3.5 billion

Vodafone says the integration of both firms will deliver synergy targets of Rs 140 bn annually

In its maiden financial results after the merger, Vodafone Idea on Wednesday reported a net loss of Rs 49.7 billion on a revenue of Rs 120.2 billion.

For the July-September quarter, earnings before interest, tax, depreciation and amortisation (Ebitda) declined 28.7 per cent to Rs 9.8 billion.

The biggest disappointment, however, was the 4.7 per cent sequential decline in average revenue per user (ARPU) to Rs 88, that missed all analyst estimates (predicted at Rs 95-98).

Meanwhile, the company has indicated that its board is evaluating a fund raising of up to Rs 250 billion (or $3.5 billion) to ensure that the company