Now Reading: Vodafone Idea narrows loss, adds subscribers for first time since merger
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Vodafone Idea narrows loss, adds subscribers for first time since merger
Vodafone Idea narrows loss, adds subscribers for first time since merger
Vodafone Idea Ltd reported a net loss of Rs 3,754 crore for the June quarter, down from Rs 6,608 crore a year ago, and added subscribers for the first time since its…
The Story in Brief
Vodafone Idea Ltd reported a net loss of Rs 3,754 crore for the June quarter, down from Rs 6,608 crore a year ago, and added subscribers for the first time since its 2018 merger. Its customer base rose to 193.1 million from 192.8 million in the previous quarter. Revenue from operations grew 6% to Rs 11,689 crore.
Average revenue per user (ARPU) climbed 10.2% year-on-year to Rs 195. The company expanded 5G coverage to over 200 cities and placed Rs 9,000 crore in network equipment orders. Capital expenditure for the quarter stood at Rs 1,930 crore. Vodafone Idea has secured Rs 6,400 crore in funding and is in talks for additional bank debt of Rs 35,000 crore.
The Indian Opinion
The market may cheer these quarterly numbers, but a sobering picture remains. Vodafone Idea still carries over Rs 1.3 trillion in spectrum dues and must find nearly Rs 1 trillion over three years for network expansion and payments. The real test is whether it can close the Rs 35,000 crore bank debt it is negotiating. Without that, the improvement in operating metrics may not translate into long-term survival.
Sources (4): livemint.com, businesstoday.in, telecom.economictimes.indiatimes.com, livemint.com (2)
This story was synthesised by AI from the 4 sources linked above.
Updated: this story now draws on 4 sources.
