Vodafone Idea on Saturday reported a consolidated net loss of ₹4,532.4 crore for the quarter ended on 31 December. The telecom giant posted net loss of ₹7,218.5 crore in the previous quarter. The quarterly losses narrowed on the back of a one-time gain of ₹2,118.9 crore, on account of the sale of its 11.5% stake Indus Towers to the merged Bharti Infratel-Indus Towers entity.
During Q3FY21, the average revenue per user (ARPU) rose to ₹121 per subscriber per month from ₹109 in the September quarter.
The consolidated operating profit or Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter rose 3.2% on a quarter-on-quarter basis to ₹4,286.2 crore. The operating margin expanded 80 basis points from the previous quarter to 39.3%.”
Revenue grew 1% quarter-on-quarter to ₹10,894 crore on the back of higher 4G additions and improved service quality during Q3FY21.
Vodafone Idea said that “it is in active discussions with potential investors to raise capital.” The company’s board had approved fund raising of ₹25,000 crore in the previous quarter.
“In Q3FY21, we improved subscriber retention and operating performance, supported by Vi GIGAnet, which remains the fastest 4G network in India, as per Ookla as well the network with highest rated voice quality as per TRAI – a testimony to our superior network,” said Ravinder Takkar, managing director and chief executive officer, Vodafone Idea Limited, said.
We remain focused on executing our strategy, and our cost optimization plan remains on track to deliver the targeted savings. The Board has approved funds raising to support our strategic intent and we are in active discussions with potential investors.”