Vodafone Idea under pressure after net loss widens to Rs7,231cr in Q3FY22

24 Jan 2022 , 10:38 AM

Vodafone Idea Limited posted loss of Rs7,231cr in Q3FY22 against loss of Rs4,532cr in Q3FY21 Rs7,132.3cr in Q2FY22. The company’s revenue rose 3.3% to Rs9,717cr from Rs9,406.4cr qoq supported by several tariff interventions including tariff hikes effective November 25, 2021. But revenue declined 10.80% yoy from Rs10,894cr.

ARPU for the quarter stands at Rs115 vs Rs109 in the prior quarter, a qoq increase of 5.2%. EBITDA (pre-Ind AS 116) improved to Rs1.62 billion, compared to Rs14.1 billion in Q2FY22 (post adjustment for a one-off of Rs1.5 billion in Q2).

Other highlights

• Continued network capacity expansion supported by spectrum refarming and network upgrade to 4G.
• Vi GIGAnet continued to offer superior network experience on both, data and voice, as reflected in independent external reports
• Achieved 90% of targeted opex savings on run rate basis in Q3FY22 against Rs. 40 billion annualized opex savings target
• Opted for upfront conversion of the interest arising on the deferred spectrum and AGR instalments into equity

Ravinder Takkar, MD & CEO, Vodafone Idea Limited, said “We are pleased to announce second consecutive quarter of revenue growth driven by several tariff interventions taken in last few months. While the overall subscriber base has declined as a result of the tariff interventions, the 4G subscriber base remained resilient on the back of superior data and voice experience offered by Vi GIGAnet.

We remain focused on executing our strategy to improve our competitive position and win in the marketplace. Separately, we have opted for upfront conversion of interest arising from deferment of spectrum and AGR dues into equity.”

At around 10.41 AM, Vodafone Idea Limited was trading at Rs11.25 per share down Rs0.65 or 5.46% on the BSE.