On Thursday, Vodafone Idea (Vi) announced its Q2 FY24 results. The telco has shed light on what has gone right for them and what has gone wrong. The only positives from this quarter were the growth in average revenue per user (ARPU) and the growth in number of 4G customers. Here, we will list all the highlights from the quarter for you.
Vodafone Idea Q2 FY24 Results Highlights
Vodafone Idea's loss widened to Rs 8,739.9 crore from Rs 7,840 crore in the previous quarter. The telco's total subscriber base came down from 221.4 million to 219.8 million. The active subscriber base dipped below the 200 million figure to 199.8 million from 202.7 million in the previous quarter. The ARPU went up from Rs 139 in the previous quarter to Rs 142 in Q2 FY24.
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One big negative was that the telco's blended churn rate went up from 3.9% to 4.1%. The 4G subscribers count went up from 122.9 million to 124.7 million, which is a positive. However, the growth in 4G subscribers and ARPU isn't meaningful enough to make a positive difference in the life of the telco.
Vodafone Idea's blended churn rate has again gone higher than 4% which is a major concern. At this rate, the telco's active subscriber base will deteriorate faster and would mean a duopoly of Airtel and Jio in the market.
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Akshaya Moondra, CEO, Vodafone Idea Limited, "We are pleased to report another quarter of consecutive revenue growth, improvement in ARPU and 4G subscriber additions. We have also revamped our customer offerings over last few quarters to make our offerings more relevant to the customers with the changing customer needs and evolving industry landscape. We remain focused on our execution to effectively compete in the market. We remain engaged with our lenders for further debt fund raising as well as with other parties for equity and equity linked fund raising, to make required investments for network expansion, including 5G rollout.”
