Vodafone Idea witnessed a robust surge of nearly 1.50% in early Friday trading, despite reporting a net loss of ₹8,737.9 crore for the quarter ending September 30, 2023. The company’s total revenue for the quarter stood at ₹10,716.3 crore, a 1% increase from ₹10,614.6 crore in the corresponding period of the previous fiscal year.
The noteworthy aspect was the 2.1% quarter-over-quarter rise in Average Revenue Per User (ARPU), which now stands at Rs 142 ($1.91). This uptick was attributed to a shift of subscribers towards higher ARPU plans. Additionally, the company’s revenue held steady at Rs 10,716 crore ($1.44 billion), in comparison to Rs 10,615 crore ($1.43 billion) in the same quarter of the preceding fiscal year.
In a positive development, the telecom giant marked its ninth consecutive quarter of growth in its 4G subscriber base, which now stands at an impressive 124.7 million. This expansion occurred despite a marginal quarterly decline of 1.6 million in the overall subscriber base, which currently totals 219.8 million.
The data usage per broadband customer stood at an impressive average of 15.8 GB per month, with total data traffic experiencing a 2% increase quarter-over-quarter.
Despite these favorable indicators, Vodafone Idea’s shares experienced a dip on Thursday, concluding at Rs 10.73 ($0.14) on the Bombay Stock Exchange, marking a 1.2% decline.
At 9:47 AM the shares were trading 1.40% higher at ₹10.90
