Vodafone Idea Net Loss Narrows to Rs 6,989 Crore in Q3 FY24

Vodafone Idea Limited (VIL), the third-largest telecom player in India, has released its financial results and performance data for Q3 FY24 (Oct-Dec 2023). During the quarter, the telco’s net loss narrowed to Rs 6,989 crore from Rs 8739.9 crore in the previous quarter. Vi’s ARPU (average revenue per user) figure reached Rs 145, a gain of Rs 3 QoQ. The telco is still in talks with various parties for fund raising which will be essential for network expansion and 5G rollout.

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Read More – Vodafone Idea Q2 FY24 Results: See Key Highlights

Vodafone Idea Key Performance Highlights for Q3 FY24

For the third quarter of FY24, Vi reported its total 4G subscriber base at 125.6 million, up 0.9 million from 124.7 million in the previous quarter. The ARPU is up from Rs 142 to Rs 145 QoQ. The total subscriber base stood at 215.2 million out of which 89% of the subscribers are prepaid users. The VLR or active subscribers during Q3 FY24 fell to 196.7 million from 199.8 million in the last quarter.

Vi’s blended churn rate increased from 4.1% in Q2 FY24 to 4.3% in Q3 FY24.

Read More – Vodafone Idea Q1 FY24 Results Analysis

Akshaya Moondra, CEO, Vodafone Idea Limited, said, “We are pleased to report highest EBITDA (pre-IndAS 116) of Rs. 21.4 billion in last 11 quarters. In line with the evolving industry landscape and changing customer needs, we have revamped our offerings as well as focusing on our execution to effectively compete in the market. Resultantly, we are able to grow our 4G subscribers and ARPUs consecutively for last 10 quarters. We remain engaged with various parties for fund raising, to make required investments for network expansion, including 5G rollout.”