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Vodafone Idea net loss narrows YoY to Rs 7,297 cr in June quarter

Vodafone Idea net loss narrows YoY to Rs 7,297 cr in June quarter

The telecom's revenue from operations increased 13.7 per cent to Rs 10,410.10 crore in the quarter under review as against Rs 9,152.3 crore a year ago.

Vodafone Idea Q1 results Vodafone Idea Q1 results

Vodafone Idea on Wednesday reported a net loss of Rs 7,296.7 crore in the quarter ended 30 June, 2022. The telco major's loss marginally narrowed from Rs 7,318.6 crore in the same quarter last fiscal, but widened from Rs 6,563.1 crore in the preceding quarter (Q4FY22). 

The telecom's revenue from operations increased 13.7 per cent to Rs 10,410.10 crore in the quarter under review as against Rs 9,152.3 crore a year ago. On a YoY basis, revenue growth was strong, highest since merger with Aditya Birla's Idea. EBITDA for the quarter was Rs 4,330 crore.

On consumer basis, Vodafone Idea stated that it had 240.4 million subscribers as of June 30, 2022. "As the company continues to expand its broadband coverage and capacity, specifically 4G, this large subscriber base provides a great platform for the company  to upgrade voice only customers to users of data services and digital offerings," the telco said in a statement.

During the quarter, the telco said that it continued to focus on expanding 4G coverage and capacity. "Our 4G network covers over 1 billion Indians as of June 30, 2022."

On recently-concluded 5G spectrum auction conducted by Department of Telecom (DoT), VIL said, it has successfully acquired mid band 5G spectrum (3300 MHz band) in our 17 priority circles and mmWave 5G spectrum (26 GHz band) in 16 circles, which will enable us to offer superior 5G experience to our customers as well as strengthen our enterprise offerings and provide new opportunities for business growth in the emerging 5G era. 

It also said that it has acquired additional 4G spectrum in 3 circles of Andhra Pradesh, Karnataka and Punjab. The total commitment for the spectrum acquired in this auction is Rs 18,800 crore, with annual Instalment of Rs 1,680 crore. "We believe that the above spectrum acquisition will enable us to strengthen our position in our key markets and it aligns well with our long term strategic intent. With this, we now have a solid portfolio of spectrum across all bands in all our priority circles," VIL added.

Shares of VIL on Wednesday closed 3.19 per cent lower at Rs 9.11 apiece on BSE.