Vodafone Idea has reported significant narrowing of losses to about Rs 7,218 crore for the September quarter, and said signs of recovery were visible with gradual improvement in economic activities.

The company’s losses in the second quarter of the previous fiscal had been at a staggering Rs 50,921.9 crore after it provisioned for Supreme Court mandated statutory dues.

The gross revenue for the quarter ended September 30, 2020 came in at about Rs 10,791 crore, marginally lower than the same period of the previous year. Revenue was, however, 1.2 per cent higher when compared sequentially

IndiGo hit hard

Interglobe Aviation Ltd, which runs India’s largest airline IndiGo, has reported its steepest quarterly loss at Rs 1,194 crore for the second quarter ended September 30. It had posted a net loss of Rs 1,062 crore in the September quarter of the previous fiscal.

BPCL profit up 58%

Bharat Petroleum Corp Ltd (BPCL) on Thursday reported a 58 per cent jump in September quarter net profit at Rs 2,589.52 crore on the back of inventory gains and a rise in refining margin.