Vodafone Idea share price rise to 4% on Wednesday, after the company stand against GST payment. The Vodafone Idea share price gain as much as 3.96% to ₹8.39 on BSE. The company has get order under Central Goods and Services Tax (CGST) Act, 2017 on 18 Feb, that state the payment of penalty and interest. This order has been issued under Section 73 of the CGST Act, and alleged the high availment of Input Tax Credit and other financial matters.
It states the penalty of ₹97,16,875, with applicable tax demand and interest. Vodafone has refuted the claims made under the GST notice. They state that it will continue the measures for reversal or rectification. Vodafone Idea said, “ The highest financial impact is to expand tax demand, penalties and interest. The company are not agree with this GST order and will take action for rectification/ reversal.”
Vodafone Idea share price jumps to 4% in Q3 Results
Vodafone company narrowed down the net loss to ₹6,609.3 crore in the 3rd quarter of FY25 from a loss of ₹7,175.9 crore in the previous quarter. The revenues of the company in Q3FY25 increase 1.7% to ₹11,117.3 crore from ₹10,932.2 crore, in quarter-on-quarter(QoQ) results.
According to the operational level, EBITDA increase 3.6% to ₹4,712.4 crore from ₹4,549.8 crore. The EBITDA margin was at 42.4% versus 41.6% in QoQ.
The company continues to lose market share on account of lower ARPU translation, given the elevated subscriber churn and subscriber mix.
“Despite the likely capex, we believe to gain back subscribers for Vodafone Idea, given its deeper pockets and superior free cash flow generation. The Vodafone Idea share price believe that Vi’s network investments are remains contingent on debt raise, and turn into dependent on continued support or relief from India Government ( ₹44,000 crore+ annual repayments to GoI starting from 1HFY26).
Read Also: Mohan Yadav’s security lapse, Suspicious Man found with Government ID card and walkie-talkie