Vodafone Idea‘s share price was in the red on Wednesday morning.

What Happened: The telco continued to experience a decline in its customer base, recording a net loss of 8.60 lakh consumers in June, according to the latest data released by the Telecom Regulatory Authority of India (TRAI) on Tuesday.

In contrast, competitors Reliance Jio and Bharti Airtel added 19.11 lakh and 12.52 lakh subscribers, respectively, during the same period.

See Also: CCI Reportedly Raises Red Flags On Reliance-Disney Merger, Cricket Broadcasting Rights In Focus

As a result of the losses in June, Vodafone-Idea’s total mobile user base has reduced to 21.7 crore. In May, the troubled telecom operator lost 9.20 lakh subscribers, an increase from the 7.30 lakh subscribers lost in April and the 6.80 lakh lost in March.

The company had effected a price hike earlier this month along with Reliance Jio and Airtel.

Earlier in the month, the debt-ridden company reported a consolidated net loss of ₹6,432 crore for the June quarter, an improvement from the ₹7,840 crore net loss recorded in the same period last year. The company’s revenue from operations declined by 1.3%, dropping to ₹10,508.3 crore from ₹10,655.5 crore in the June 2023 quarter.

Price Action: Vodafone Idea’s share price was down 0.25% to trade at ₹15.90 as the markets opened on Wednesday.

Read Next: S&P Global Ratings Upgrades Tata Power’s Credit Rating

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.