BackVodafone Idea names Murthy GVAS as interim CFO
Murthy GVAS is currently designated as Executive Vice President – Financial Controller and Taxation Head at Vodafone Idea
PremiumVodafone Idea board approved the appointment of Murthy GVAS as the Interim Chief Financial Officer and Key Managerial Personnel of the company, effective February 15, 2023.
“Board of Directors of the Company at its meeting held today, has approved the appointment of Mr. Murthy GVAS, currently designated as Executive Vice President – Financial Controller and Taxation Head, as the Interim Chief Financial Officer and Key Managerial Personnel of the Company, with effect from 15th February, 2023," the company said in an exchange filing.
GVAS is a qualified Chartered Accountant with an overall experience of 32 years, of which 25 years in the telecom sector.
He has been holding the portfolio of Executive Vice President - Financial Controller and Taxation Head in the Company. He is also leading the Shared Services vertical in the finance function.
Murthy GVAS has expertise in finance operations, consolidation, compliances, taxation, systems integration, mergers and acquisitions and brings deep knowledge of the business. He is well-versed with the key business drivers, challenges and strategies.
The company also released its third quarter earnings on February 14.
The telecom firm's net loss widened to ₹7,990 crore in the quarter under review as against ₹7,595.5 crore in the year-ago period.
ARPU (average revenue per user) for the quarter under review came in at ₹135 as compared to ₹131 in Q2FY23 and ₹115 in Q3FY22, a YoY growth of 17.4%.
The firm's revenue surged 9% to ₹10,621 crore in the quarter as against ₹9,717 crore in Q3FY22.
The company's total gross debt (excluding lease liabilities and including interest accrued but not due) as of 31 December, 2022 came in at ₹2.22 lakh crore, comprising of deferred spectrum payment obligations of ₹1.39 lakh crore and adjusted gross revenue liability of ₹69,910 crore that are due to the government.
Vodafone Idea share price opened marginally higher on February 15 at ₹7.71 versus the previous close of ₹7.69. The stock hit an intraday high of ₹7.76 and a low of ₹7.66.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
