Vodafone Idea Q4 Results: Cons net loss narrows to ₹6,418 crore, ARPU rises to ₹135; key highlights here

    Vodafone Idea announced its Q4FY23 results on May 25, reporting a net loss of 6,418.9 crore, compared to a loss of 6,563 crore in the corresponding period last year. The telecom major’s revenue from operations during the January-March quarter stood at 10,532 crore, registering a growth of three per cent, compared to 10,239 crore in the year-ago period. Subscriber mix and 4G subscriber additions supported the year-on-year growth in terms of revenue.

    On the operating front, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) during the fourth quarter came in at 4,210 crore, compared to 4,649 crore in the same quarter last fiscal. The average revenue per user (ARPU) improved to 135 from 124 a year ago, supported by the migration of subscribers to higher ARPU plans.

    Also Read: Vodafone Plc says Group carrying value of investment in Vi is Zero, remains in need of additional liquidity

    The annual revenue improved for first time since its merger. The total revenue for the year grew by 9.5 per cent from Rs. 38,520 crore to Rs. 42,180 crore supported by tariff hikes, improving subscriber mix and 4G subscriber additions.

    “We are pleased to report annual revenue growth for the first time post –merger on the back of consistently improving performance for last several quarters. Our annual revenue and EBITDA grew by 9.5 per cent and 24.1 per cent respectively compared to last financial year,” said Akshaya Moondra, CEO, Vodafone Idea.

    The operator’s 4G subscriber base increased to 122.6 million in the fourth quarter, compared to 121.6 million in the third quarter of fiscal 2022-23. The capital expenditure for the quarter stood at 5.6 billion, taking the total capital expenditure spend for FY23 to 33.6 billion. 

    The total gross debt, excluding lease liabilities and including interest accrued but not due, as of March 31, stood at 2.09 lakh crore, compared to 2.23 lakh crore as of December 31, due to conversion of debt.

    In a regulatory filing to the stock exchanges, Vodafone Idea said that on February 3, 2023, the government had has passed an order directing the company to issue equity shares against the loan of Rs. 161.33 billion representing NPV of interest arising due to deferment. 

    The company’s board has allotted 16.13 billion equity shares of the face value of Rs. 10 each at an issue price of Rs. 10 each. With this issuance, the promoter shareholding stood at around 50 per cent and the government’s shareholding at around 33 per cent.

    ‘’We continue to remain engaged with our lenders for further debt fund raising as well as with other parties for equity or equity linked fund raising, to make required investments for network expansion, including 5G rollout,” said Moondra.

    On May 25, shares of Vodafone Idea settled 0.43 per cent higher at 6.99 apiece on the BSE.

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