Vodafone Idea loss widens to Rs 7,675 cr in Q4

New Delhi, May 16, 2024.

 Telecom operator Vodafone Idea on Thursday reported widening of losses to Rs 7,675 crore in the March quarter amid a rise in interest and financing cost, while its overall subscriber base shrunk.

The company claimed that it reported its highest post-merger quarterly EBITDA of Rs 2,180 crore, which grew by 5.4% on a YoY basis.

Its 4G subscriber base increased to 12.63 crore versus 12.26 crore in Q4FY23.

Annual revenue grew to Rs 42,650 crore in FY24 versus Rs 42,180 crore in FY23, recording an annual growth of 1.1%. Annual EBITDA (pre IndAS116) of Rs 8,400 crore was reported, up from Rs 8,300 crore in FY23. EBITDA margin (pre IndAS116) stood at 19.7%

Commenting on the earnings, CEO Akshaya Moondra said the company’s annual revenue and EBITDA registered growth for the second consecutive year on the back of consistently improving performance for the last several quarters despite significantly lower investments. He also highlighted growth in ARPU and 4G subscribers for 11 successive quarters.

The capex spend for the quarter stood at Rs 550 crore and capex for the year stood at Rs 1,850 crore. The total debt from banks and financial institutions stood at Rs 4,040 crore and optionally convertible debentures at Rs 160 crore as of March 31, 2024.

The debt from banks and financial institutions reduced by Rs 7,090 crore during the last one year (was at Rs 11,130 crore in Q4FY23). The cash and bank balance stood at Rs 170 crore as of March 31, 2024.

The payment obligations to the government stood at Rs 203,430 crore as of March 31, 2024, including deferred spectrum payment obligations of Rs 1,33,110 crore and AGR liability of Rs 70,320 crore.