No 5G service, lack of fresh funds could further hurt Vodafone Idea even as Airtel, Jio leap ahead

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Amid challenges, Vi’s CEO says that they’re looking for fresh funding to rollout 5G services.

Synopsis
Vodafone Idea’s recently announced Q3FY23 earnings paint a sorry picture. Losses run into thousands of crores amid tough competition from market leaders Airtel and Jio. Amid all this, lack of 5G services could lead to further churn for Vodafone Idea. The company says it is in talks for more funds from lenders. Can it come out of the storm?

INR7,990 crore — that’s the net loss Vodafone Idea reported in the Q3FY23 results. A staggering number that doesn’t seem like settling down anytime soon. The Q3 net loss was 5% more than the previous quarter and 10% more than the same quarter last year. With mounting losses and increasing debt, Vi’s troubles seem to be compounding. While the company is getting some interim reliefs in terms of government equity conversion and is also trying to