Vodafone Idea tumbles 11% post Sept quarter loss

Shares of Vodafone Idea on Thursday plunged 11 percent on bourses after the telecom services provider reported a consolidated loss of Rs 4,973 crore for the September quarter.

The stock opened on a weak note and fell 10.85 percent to touch the day's low of Rs 36.90 on the BSE. The stock is currently trading at Rs 37, down 10.74 percent from the previous close.

Similar movement was seen on the NSE, where the scrip cracked 10.86 percent to a low of Rs 36.90.

Vodafone Idea, in a regulatory filing to the stock exchanges on Wednesday, reported a consolidated loss of Rs 4,973 crore for the September quarter in its maiden financial results post-merger.

It reported consolidated revenue of Rs 7,663 crore for July-September 2018.

Besides, the company said it is looking to raise about Rs 25,000 crore, in which promoters Vodafone Group will contribute Rs 11,000 crore and Aditya Birla Group Rs 7,250 crore.