Vodafone Idea Q3 net loss widens to ₹7,990 crore, average revenue per user edges up to ₹135

Vodafone Idea Q3 net loss widens to ₹7,990 crore, average revenue per user edges up to ₹135
Vodafone Idea's troubles continue to worsenBCCL
  • 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.
Vodafone Idea’s troubles continue to worsen as its net loss widened to ₹7,990 crore in Q3, both on a year-on-year and sequential comparison. It was also higher than analyst estimates, albeit marginally. The telco reported a net loss of ₹7,596 crore in Q2, and ₹7,231 crore in Q3 last year.

On the other hand, its revenues grew 9.3% YOY to ₹10,621 crore. Sequentially, its topline was flat – the telco reported a revenue of ₹10,615 crore in Q2.

Vi’s stock was trading flat in the first half on Wednesday at ₹7.7.

Subscriber base continues to shrink, but 4G user additions boost ARPU

Like its peers Bharti Airtel and Reliance Jio, Vodafone Idea also reported a slight uptick in its average revenue per user (ARPU) during the quarter to ₹135, as compared to ₹131 in the previous quarter, and ₹115 a year ago.


Its ARPU is still significantly lower than that of its rivals Bharti Airtel and Reliance Jio. While Airtel reported an ARPU of ₹193 in Q3, Jio reported an ARPU of ₹178.2.

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:

ParticularsQ3 FY23Q2 FY23Q3 FY22
Revenue₹10,621 crore₹10,615 crore₹9,717 crore
Net profit- ₹7,990 crore- ₹7,596 crore- ₹7,231 crore
Total subscribers228.6 million234.4 million247.2 million
4G subscribers121.6 million120.6 million117 million

Source: Company reports

Engaging with lenders and investors for 5G rollout says Vi

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 acquired spectrum worth ₹43,084 crore and ₹88,078 crore, respectively.


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