Vodafone Idea Q1 net loss narrows to Rs 7,297 cr

4 Aug 2022 , 10:53 AM

On a consolidated basis, revenue for the quarter was Rs 10,410.1 crore, a QoQ improvement of 1.7% (up 13.7% YoY). On a YoY basis, revenue growth was strong at 13.7%, highest since merger. On a reported basis, EBITDA for the quarter was Rs 4,328.4 crore. EBITDA excluding IndAS 116 impact improved to Rs 2,110 crore, compared to Rs 1,970 crore in Q4 FY22, driven primarily by higher revenue. This quarter had one-off of Rs 150 crore. ARPU (average revenue per user) improved to Rs 128, up 3.2% QoQ and higher by 23.4% YoY, aided by the tariff hikes. The subscriber base declined to 240.4 million as against 243.8 million in Q4 FY22. However, the 4G subscriber base continued to grow and with 1.0 million customers added in Q1, 4G base now stands at 119 million. Subscriber churn was marginally higher at 3.5% as compared to 3.4% posted in Q4 FY22. The company said it continues to see high data usage per 4G customer at approximately 14.3 GB/month with the total data traffic witnessing healthy sequential growth of 3.6%. Capex spend for Q1 FY23 was Rs 840 crore as against Rs 1210 crore in Q4 FY22. The companys total gross debt (excluding lease liabilities and including interest accrued but not due) as of 30 June 2022 stands at Rs 199,080 crore, comprising of deferred spectrum payment obligations of Rs 116,600 crore, AGR liability of Rs 67,270 crore that are due to the Government and debt from banks and financial institutions of Rs 15,200 crore. Cash & cash equivalents were Rs 860 crore and net debt stood at Rs 198,220 crore. Ravinder Takkar, MD & CEO of Vodafone Idea said, ?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. In the recently concluded spectrum auction, we have acquired sufficient spectrum in our key markets to offer superior 5G experience to our customers. We also completed the first tranche of fund raising in the form of preferential equity contribution of Rs 4940 crore from our promoters, including the incremental infusion of Rs 440 crore by Vodafone group in July 2022. We continue to remain engaged with lenders and investors for further fund raising.? Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. The company provides pan India Voice and Data services across 2G, 3G and 4G platforms. Shares of Vodafone Idea were down 3.07% at Rs 8.83 on the BSE. Powered by Capital Market – Live News