Vodafone shares fall 3% post Q4 results

New Delhi: Shares of Vodafone Idea on Tuesday fell by over 3 per cent as the company's March 2019 quarter results failed to cheer investors.

The scrip declined 3.11 per cent to close at Rs 14 on the BSE. During the day, it dropped 9.68 per cent to Rs 13.05 -- its 52-week low. At the NSE, shares went lower by 3.11 per cent to close at Rs 14.

In terms of traded volume, 126.96 lakh shares were traded on the BSE and over 24 crore shares on the NSE during the day. The results were announced after market hours on Monday.

Vodafone Idea on Monday said its consolidated loss has narrowed sequentially to Rs 4,881.9 crore in March 2019 quarter, as strategic initiatives to improve revenue and average realisation from subscribers helped financials.

The loss has narrowed from Rs 5,004.6 crore during the third quarter of 2018-19, aided by 3.4 per cent drop in total expenses.

The books of Vodafone Idea recorded a comprehensive loss of Rs 962.2 crore in the corresponding quarter a year ago, but the year-on-year figure is not comparable as the merger between India unit of Vodafone Group and Idea Cellular was completed on August 31, 2018.