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Shares of Vodafone Idea fell as much as six per cent to Rs 13.6.
The company’s subscriber base declined to 334.1 million users at the end of March-quarter from 387.2 million users at the end of the December-quarter.
Jefferies analysts expect the company’s market share to fall to 20 per cent while Reliance Industries-owned Jio will become the dominant player with a 40 per cent market share in FY 21
Jio has been building a market share since its launch in 2016 by offering free calls and cut-price data plans, forcing rivals to respond with their own cuts and spurring consolidation
Vodafone Idea also reporter a consolidated net loss of Rs 4, 882 crore for the March-quarter on Monday, which is narrower than the consensus forecast of Rs 4, 986 crore. The quarterly revenues have been estimated at Rs 11, 175 crore
Its shares plunged 36.6 per cent this year as of the last close.
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