Vodafone Idea Q4 results: Net loss narrows to ₹6,563 crore
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Telecom operator Vodafone Idea on Tuesday reported a consolidated net loss of ₹6,563 crore in the fourth quarter, down from ₹7,023 crore in the corresponding period last fiscal.
Revenue of the company rose 6.46% year-on-year to ₹10,240 crore during the quarter ended March 2022, aided by tariff hikes announced in November last year. On a sequential basis, the telco logged a 5.4% growth in revenue.
Average revenue per user (ARPU) jumped 7.5% to ₹124 in the January-March period compared with ₹115 in the previous quarter.
Average daily revenue growth came in at 7.7% sequentially, the highest quarterly growth since the merger of Vodafone and Idea.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) improved to ₹2,120 crore, compared with ₹1,620 crore in Q3FY22.
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This, according to the company, was driven by improvement in revenue which was partially offset by higher subscriber acquisition costs due to higher gross additions during the quarter.
"We are pleased to announce third consecutive quarter of revenue growth driven by tariff interventions taken in November 2021. 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," says Ravinder Takkar, managing director and chief executive officer at Vodafone Idea Ltd.
"We are in the process of creating differentiated digital experience for our customers and added several new digital offerings across various genres during the quarter. We successfully completed first tranche of fund raising in the form of preferential equity contribution of ₹4,500 crore from our promoters. We continue to actively engage with lenders and investors for further fund raising," Takkar adds.
Capex spending for the quarter was ₹1,210 crore compared with ₹1,050 crore in Q3FY22. Total capex spend for FY22 stood at ₹4,490 crore versus ₹4,150 crore in FY21.
The total gross debt (excluding lease liabilities and including interest accrued but not due) as of March 31, 2022, stood at ₹1,97,880 crore, comprising deferred spectrum payment obligations of ₹1,13,860 crore billion, AGR liability of ₹65,950 crore that is due to the government and debt from banks and financial institutions of ₹18,070 crore.
Cash and cash equivalents were ₹1,460 crore and net debt stood at ₹1,96,420 crore.
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