On the back of lower finance cost and tariff hike in July, Vodafone Idea on Tuesday posted a smaller-than-expected net loss at Rs 6,609.3 crore during the October-December quarter. Its net loss in the preceding quarter was Rs 7,175.9 crore.
However, the company missed Bloomberg consensus estimates on both revenue and Ebitda front. Revenues during the quarter stood at Rs 11,117.3 crore, marking a 1.7% sequential increase, but below Bloomberg’s estimate of Rs 11,363 crore. Ebitda for the quarter rose 3.57% sequentially to Rs 4,712.4 crore, but also fell short of the estimated Rs 4,808 crore.
Vi’s subscriber base continued to shrink, dropping to 199.8 million from 205 million in the September quarter as the telco struggled to retain users. The number of data subscribers across all services (2G to 5G) fell to 134.2 million from 134.9 million in Q2. However, average revenue per user (Arpu)(excluding enterprise customers) grew 4.2% sequentially to Rs 173, up from Rs 166 in the previous quarter, driven by the residual impact of the July 2024 tariff hikes and an improved customer mix. Postpaid subscribers rose to 25.2 million, up from 24.5 million in Q2.
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Vodafone Idea reported its highest quarterly cash Ebitda since the merger, at Rs 2,450 crore, reflecting a YoY growth of 15%. CEO Akshaya Moondra expressed optimism about future performance, citing ongoing investments and a recent equity infusion of Rs 1,910 crore from a promoter, bringing the total fresh equity raised over the past 10 months to Rs 26,000 crore.
Vi continues to engage with lenders for debt financing as it eyes a three-year investment plan of Rs 50,000–55,000 crore for network expansion. Moondra also highlighted the government’s decision on a bank guarantee waiver as a sign of ongoing support for the sector.
Vi’s 4G data capacity grew by 24% during the quarter, with 4G population coverage increasing by 41 million to reach 1.07 billion.
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