Vodafone Idea reported a net loss of ₹7,990 crore in Q2 as compared to ₹7,231 crore in the same quarter, a year ago.- The telco also lost 5.8 million subscribers during the quarter, but its average revenue per user (
ARPU ) improved to ₹135 from ₹131 in the previous quarter. - The company’s CEO
Akshaya Moondra maintained that Vi is engaging with lenders and investors to raise funds for network expansion and 5G rollout.
On the other hand, its revenues grew 9.3% YOY to ₹10,621 crore. Sequentially, its topline was flat – the telco$4 a revenue of ₹10,615 crore in Q2.
Vi’s stock was trading flat in the first half on Wednesday at ₹7.7.
Like its peers
Its ARPU is still significantly lower than that of its rivals Bharti
Vi’s total subscriber base continued to shrink, declining to 228 million in Q3 from 234 million in the previous quarter. In the same period last year, Vi’s subscriber base stood at 247 million.
On a positive note, Vi’s 4G subscriber base continued to increase. In Q3, Vi added 1 million 4G subscribers, taking the total to 121.6 million at the end of the quarter.
Vi’s 4G subscribers as a percentage of its total subscribers increased to 53.2% during Q3, up from 51.5% in the previous quarter.
Vodafone Idea’s Q3 in numbers:
Source: Company reports
Even as its rivals Bharti Airtel and Vodafone Idea rolled out their respective 5G networks extensively across the country, Vi says it is still in talks with stakeholders for its 5G rollout.
“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 and 5G rollout,” said Akshaya Moondra, CEO, Vi.
Vi acquired 5G spectrum worth ₹18,799 crore, payable in 20 annual installments. Its rivals Airtel and Reliance Jio$4 spectrum worth ₹43,084 crore and ₹88,078 crore, respectively.
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