Vodafone Idea Q4 result: net loss narrows, revenue up by 3%

26 May 2023 , 10:46 AM

Vodafone Idea Ltd, a leading telecom major, announced a slight narrowing of losses for the quarter ending March 31, 2023, with a reported loss of Rs.6,419 crore compared to Rs.6,563 crore in the year-ago period. The company’s revenue increased by 3% to Rs.10,532 crore in Q4 FY23, reflecting a positive trend. Despite the loss, Vodafone Idea showcased annual revenue growth for the first time post-merger, signifying progress and potential for the future.

Marginally Reduced Losses and Revenue Growth:

Vodafone Idea’s loss for the quarter decreased marginally to Rs.6,419 crore compared to Rs.6,563 crore in the corresponding quarter of the previous year. Simultaneously, the company witnessed a 3% rise in revenue, reaching Rs.10,532 crore in Q4 FY23, compared to Rs.10,240 crore in Q4 FY22.

Steady Average Revenue per User (ARPU):

During the March quarter, Vodafone Idea’s average revenue per user (ARPU) showed stability, increasing to Rs.135 from Rs.124 in the year-ago period. This consistent performance reflects the company’s efforts to maintain a steady customer base and revenue generation.

Positive Market Response and Stock Performance:

Vodafone Idea’s scrip on the BSE closed trading 0.4% higher at Rs.6.99 on Thursday, indicating a positive market response to the company’s financial results.

Widened Losses for FY23 but Achieved Annual Revenue Growth:

While Vodafone Idea’s losses widened to Rs.29,298 crore in FY23 from Rs.28,234 crore in FY22, the company achieved a significant milestone by recording annual revenue growth for the first time since the merger. Its revenue increased by 9.4% to Rs.42,133.9 crore compared to Rs. 38,489.5 crore in the previous fiscal year.

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