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ICICI Securities Report
Vodafone Idea Ltd.’s Q2 FY21 adjusted cash Ebitda at Rs16 billion was broadly in line with our estimates.
However, it was no show for the company in Q2 FY21 with subscribers decline of 8 million, 4G net add at a meagre 1.5 million, and drop in minutes and data usage.
With the adjusted gross revenue case behind, the company will need to bounce back stronger, with limited resources, to remain a going concern.
Capex for the company is contingent on fundraising and any delay may hurt it further.
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