Vodafone Idea reported a net loss of Rs 7,166.1 crore for the fourth quarter ended March 31, 2025, which is wider than the Rs 6,609.3 crore loss in the previous quarter. Despite the loss, the company’s revenue increased by 3.8% in Q4. Vodafone Idea's board has approved a fundraising plan of up to Rs 20,000 crore, subject to shareholder and regulatory approvals, and is also in discussions with banks for additional debt financing. Brokerages such as JPMorgan have given a neutral rating on Vodafone Idea with a target price of Rs 8 per share, noting that Q4 results were broadly in line with expectations on revenues and EBITDA. Meanwhile, beauty and fashion retailer Nykaa posted a profit of Rs 20 crore in Q4 FY25, a 2.8-fold increase year-over-year, but missed analyst estimates. Nykaa's net revenue for Q4 FY25 was Rs 2,062 crore. HSBC downgraded Nykaa shares to a hold rating and cut its target price to Rs 200 per share, citing risks to consensus margin improvement expectations despite continued growth in beauty and an uptick in fashion segments. Max India Ltd reported consolidated revenue of Rs 46 crore in Q4 FY25, up 16% quarter-over-quarter, but full-year revenue declined 16% year-over-year to Rs 164 crore. The company posted consolidated EBITDA losses of Rs 37.2 crore in Q4 and Rs 99.2 crore for the full fiscal year 2025.