Vodafone Idea announced a loss of Rs 7,840 crore on Monday for the quarter that ended in June 2023, up from Rs 7,297 crore and Rs 6,419 crore in the prior March quarter.
In the first quarter, operating revenue increased slightly by 2% to Rs 10,655 crore from Rs 10,410 crore in the corresponding quarter last year.
ARPU for the first quarter increased sequentially by 2.9% to Rs 139 from Rs 135 in the preceding quarter.
In the reporting quarter, the company generated EBITDA of Rs. 4,157 crore with 39% margins. EBIT loss totaled Rs. 1,459 crore for the quarter.
The eighth consecutive quarter of growth in average daily revenue, ARPU, and 4G subscribers, according to Akshaya Moondra, CEO of Vodafone Idea Limited, “clearly reflects our ability to effectively operate and compete in the market.” Recently, we introduced “Vi One,” a converged solution that combines content, bandwidth, and mobility into a single plan providing consumers with ease and value; a first for the prepaid sector. We continue to interact with our lending institutions to raise additional debt as well as working with other parties to raise equity or equity-linked funds necessary financial commitments for network rollouts, including 5G.
The quarter’s capital expenditures totaled Rs. 450 crore.
At the conclusion of the June quarter, the total gross debt—which includes accrued but unpaid interest and deferred spectrum payment commitments totaling Rs. 1.33 lakh crore and AGR liabilities totaling Rs. 66,860 crore—was Rs. 2.11 lakh crore.
As of June 2023, the company had Rs 250 crore in cash and cash equivalents, while its net debt totaled Rs 2.11 lakh crore. In the past year, there has been a Rs 5,700 crore reduction in bank and financial institution debt.
The number of 4G subscribers increased for the ninth straight quarter, reaching 122.9 million as of June 2023 as opposed to 122.6 million the quarter before. However, from 225.9 million in Q4FY23, the total subscriber base fell to 221.4 million.
Vodafone Idea reported that its broadband customers continue to use a lot of data—15.7 GB per month—and that the quarter’s overall data traffic increased 3.5% QoQ. The company’s shares decreased 0.62% to settle at Rs 8 on Monday.
