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Vodafone Idea Q4 Results: Net loss narrows to Rs 6,563 crore – Economic Times

NEW DELHI: Telecom major Vodafone Idea on Tuesday said its net loss for the quarter-ending March came in at Rs 6,563.1 crore, down from Rs 7,022.8 crore in the same quarter last year.

Revenue from operation stood at Rs 10,271.8 crore, up 6.46 per cent from Rs 9647.8 crore in the year-ago quarter. The company said revenue growth was supported by tariff hikes effective Nov 25, 2021.

Average Revenue Per User (ARPU) for the quarter stands at Rs 124 versus Rs 115 in the prior quarter, a QoQ increase of 7.5 per cent. Average Daily Revenue growth came in at 7.7 per cent QoQ, the highest quarterly growth since the merger of Vodafone and Idea. Ebitda improved to Rs 2,120 crore, compared to Rs 1,620 crore in Q3FY22, the company said.

“While the overall subscriber base has been impacted primarily on account of the tariff increase, the 4G subscriber base continued to grow on the back of superior data and voice experience offered by Vi GIGAnet. We are in the process of creating a differentiated digital experience for our customers and added several new digital offerings across various genres during the quarter,” said Ravinder Takkar, MD & CEO, Vodafone Idea.

“We successfully completed the first tranche of fundraising in the form of preferential equity contribution of Rs 4500 crore from our promoters. We continue to actively engage with lenders and investors for further fundraising.”

The total gross debt (excluding lease liabilities and including interest accrued but not due) as of March 31, 2022, stood at Rs 1,97,880 crore, comprising deferred spectrum payment obligations of Rs 1,13,860 crore billion, AGR liability of Rs 65,950 crore that is due to the government and debt from banks and financial institutions of Rs 18,070 crore.

Cash and cash equivalents were Rs 1,460 crore and net debt stood at Rs 1,96,420 crore. Capex spending for Q4FY22 was Rs 1,210 crore versus Rs 1,050 crore in Q3FY22.