Vodafone India Lost Rs 81 Crore Per Day In Last 90 Days; Rs 10,410 Crore Revenues Reported

Vodafone India Lost Rs 81 Crore Per Day In Last 90 Days; Rs 10,410 Crore Revenues Reported
Vodafone India Lost Rs 81 Crore Per Day In Last 90 Days; Rs 10,410 Crore Revenues Reported

Indian telecom firm, Vodafone Idea said that it reported a consolidated loss of Rs 7,296.7 crore in the April-June quarter on Wednesday.

Vodafone Idea Q1 Performance

It appears to be better as compared to Rs 7,319 crore in the corresponding quarter last year.

When it comes to revenue, the telecom major’s revenue from operations stood at Rs 10,410 crore, up 13.7% YoY as against Rs 9,152 crore in Q1FY22.

In terms of ARPU, the quarter under review ARPU stood at Rs 128 versus Rs 104 in Q1FY22, up 23.4% YoY aided by tariff hikes.

Further, the firm’s EBITDA margin dropped QoQ to 41.6% during June quarter as compared to 45.6% in the March 2022 quarter.

On The Path Of Growth

On this occasion, MD & CEO, Vodafone Idea Limited, Ravinder Takkar said, “We are pleased to announce the fourth consecutive quarter of revenue growth.” 

Adding, “We continue to witness 4G subscriber growth on the back of superior data and voice experience offered by Vi GIGAnet as well as due to our focus on creating differentiated digital experience for our customers,”. 

During the recently concluded spectrum auction, he said, “we have acquired sufficient spectrum in our key markets to offer superior 5G experience to our customers.” 

Further adding, “We also completed the first tranche of fund raising in the form of preferential equity contribution of Rs 4,940 crore from our promoters, including the incremental infusion of Rs 4,400 crore by Vodafone Group in July 2022. We continue to remain engaged with lenders and investors for further fund raising,”.

4G Subscriber Base Growth

By the end of the June quarter, the total gross debt stood at Rs 1,990.8 billion.

According to the telco, this amount consists of deferred spectrum payment obligations of Rs 1,166.0 billion and AGR liability of Rs 672.7 billion that are due to the government, and debt from banks and financial institutions of Rs 152.0 billion.

It is worth mentioning here that the firm’s subscriber base declined to 240.4 million during Q1FY23 as compared to the  243.8 million in Q4FY22.

During a BSE filing, the telco said, “However, the 4G subscriber base continued to grow and with 1.0 million customers added in Q1, 4G base now stands at 119.0 million. Subscriber churn was marginally higher at 3.5% vs 3.4% in Q4FY22. We continue to see high data usage per 4G customer at ~14.3 GB/month with the total data traffic witnessing healthy sequential growth of 3.6%,”.

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