Vodafone Idea‘s share price was wobbly on Thursday morning as the company’s September quarter results failed to lift investor sentiments.

What Happened: The telecom major posted a net loss of ₹7,175 crore for the September quarter, an improvement from the ₹8,737 crore loss in the same period last year but falling below analyst estimates. Revenue from operations rose 2% year-on-year to ₹10,932 crore, short of the expected ₹11,198 crore. EBITDA stood at ₹4,550 crore, with a margin of 41%.

Average revenue per user (ARPU) increased to ₹166 from ₹154 in the previous quarter, a 7.8% rise driven by recent tariff hikes. However, the subscriber base declined to 20.5 crore from 21.9 crore last year.

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Reacting to results, analysts at JP Morgan reiterated its “neutral” rating on Vodafone Idea with a target price of ₹10. As per the analysts, the company’s revenue and EBITDA figures came in below expectations, though capex is expected to accelerate in the second half of FY25.

The stock’s performance is likely to hinge on management's commentary regarding updates on debt funding, which remains a key point of interest for investors, the analysts suggested.

Price Action: Vodafone Idea’s share price was down 0.41% to trade at ₹7.33 as the markets opened on Thursday.

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