Vodafone idea narrows year-on-year loss to Rs 6,563 crore

Telecom service provider Vodafone Idea narrowed its year-on-year loss to Rs 6,563 crore in the fourth quarter that ended March 31,2022.

Published: 11th May 2022 10:16 AM  |   Last Updated: 11th May 2022 10:16 AM   |  A+A A-

Vodafone Idea

Vodafone logo outside its outlet. (File photo| PTI)

By Express News Service

NEW DELHI:  Telecom service provider Vodafone Idea narrowed its year-on-year loss to Rs 6,563 crore in the fourth quarter that ended March 31,2022. The company reported a loss of Rs 7,023 crore in the same quarter last fiscal. 

The revenue of the telco grew by 5.4% quarterly to Rs 10,240 crore, supported by tariff hikes effective Nov 25, 2021.

The company said its Average Daily Revenue (ARPU) rose by 7.7% quarter-on-quarter, highest quarterly growth since merger. The ARPU for the quarter stands at Rs 124 vs Rs 115 in the prior quarter.

Its EBITDA (pre IndAS116) improved to Rs 2,120 crore, compared to Rs 1,620 crore in the last quarter driven by improvement in revenue, which is partially offset by higher subscriber acquisition costs due to higher gross additions during the quarter.

On a reported basis, EBITDA for the quarter was Rs 4,650 crore. 

“We completed the first tranche of fundraising of Rs 450 crore from our promoters. We continue to engage with lenders and investors for further fundraising,” said Ravinder Takkar, MD & CEO of Vodafone Idea Limited.

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