Vodafone Idea Q3 results: Consolidated net loss widens to Rs 7,231 cr

Telecom major Vodafone Idea on Friday reported a consolidated net loss of Rs 7,231 crore in the quarter ended 31 December, 2021. The telco had reported a net loss of Rs 4,532 crore in the year-ago period. The company had posted a net loss of Rs 7,132 crore in previous quarter (Q2FY22).

The company's consolidated revenue from operations stood at Rs 9,717 crore versus Rs 10,894 crore year ago.

The telco's average revenue per user (ARPU) for the quarter rose 5.2% QoQ to Rs 115 as against Rs 109 in the earlier quarter.

The telco added that during the quarter, it saw a continued network capacity expansion supported by spectrum refarming and network upgrade to 4G.

Vi's EBITDA (earnings before interest, taxes, depreciation and amortization) improved to Rs 1,620 crore, compared to Rs. 1,410 crore in Q2FY22 (post adjustment for one-off of Rs 150 crore in Q2), it added.

Commenting on the quarterly results, 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," he added.

Shares of Vodafone Idea on Friday closed 1.24% at Rs 11.90 apiece on BSE.