BENGALURU, Oct 26 (Reuters) – Indian telecom operator Vodafone Idea (VODA.NS) reported a wider-than-expected loss on Thursday, resulting from subscriber loss and elevated bills.

Consolidated loss after tax was 87.38 billion rupees ($1.05 billion) for the quarter ended Sept 30, in contrast with a lack of 75.96 billion rupees a 12 months earlier.

Analysts on a median had anticipated a lack of 73.51 billion rupees, in line with LSEG knowledge.

Vodafone Idea, fashioned by a merger between the Indian arm of UK’s Vodafone and Aditya Birla Group’s Idea Cellular in 2018, has since posted a loss in each quarter because it misplaced floor to rivals Bharti Airtel and Reliance Jio amid a brutal value warfare.

The Indian authorities holds a 35.8% stake in Vodafone Idea after it ordered the debt-saddled firm to transform into fairness all of the dues owed to the federal government to be used of airwaves together with the curiosity associated to funds for spectrum.

Total gross debt was 2.13 trillion rupees as of Sept. 30. The debt constitutes deferred spectrum fee obligations to the federal government of 1,35 trillion rupees and dues of 78.6 billion rupees to banks and monetary establishments.

“We remain engaged with our lenders for further debt fund raising as well as with other parties for equity and equity linked fund raising, to make required investments for network expansion, including 5G rollout,” Chief Executive Officer Akshaya Moondra stated in a press release, with out disclosing any particulars.

Its subscriber base contracted to 219.8 million from 234.4 million a 12 months in the past, whereas bills climbed 2% to 186.7 billion rupees.

Meanwhile, common income per person (ARPU), a key metric for telecom companies, rose to 142 rupees from 139 rupees final quarter and 131 rupees a 12 months in the past, because it added extra 4G customers. Its 4G subscriber base expanded 3.4% to 124.7 million.

Revenue from operations rose about 1% to 107.16 billion rupees within the second quarter.

Shares of Vodafone Idea settled 0.9% decrease forward of the outcomes.

($1 = 83.2394 Indian rupees)

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