Vodafone Idea Records Rs 6,419 Crore Loss, ARPU at Rs 135

Vodafone Idea Records Rs 6,419 Crore Loss, Revenue up 3 Percent

Vodafone Idea has managed to reduce its losses in the quarter ended March, despite facing muted growth in revenue. Vodafone Idea announced its fourth-quarter results on Thursday, revealing a narrowed consolidated net loss of Rs 6,419 crore, compared to Rs 6,563 crore in the same period last year and Rs 7,988 crore in the previous quarter.

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Also Read: Fading Connections: Vodafone Idea’s Two-Year Decline in Wireless Subscribers

While revenue from operations saw a modest increase of nearly 3% year-on-year, reaching Rs 10,532 crore, the loss for the full fiscal year FY23 widened to Rs 29,301 crore from Rs 28,245 crore in the previous year. Revenue from operations for the fiscal year showed a growth of nearly 10%, amounting to Rs 42,177 crore.

Increase in 4G subscribers

Vodafone Idea also noted an increase in its 4G subscriber base, which reached 122.6 million during the March quarter, up from 121.6 million in the previous quarter. Furthermore, the company reported a marginal improvement in its operating profit, with earnings before interest, taxes, depreciation, and amortization (EBITDA) rising to Rs 4,210 crore from Rs 4,181 crore in the previous quarter. The operating margin also saw a slight increase, standing at 40% compared to 39.4% in the previous quarter.

Vodafone Idea attributed its continued network capacity expansion to spectrum refarming and network upgrades. The company has also reduced its interest costs, which decreased to Rs 4,908 crore from Rs 6,285 crore in the previous quarter.

Commenting on the results, Akshaya Moondra, CEO of Vodafone Idea, expressed satisfaction with the annual revenue growth achieved for the first time post-merger, emphasizing the company’s improving performance over the past several quarters. Moondra further stated that Vodafone Idea remains engaged with lenders for additional debt fund raising and is exploring options for equity or equity-linked fund raising to support network expansion, including the rollout of 5G technology.