Telecom major Vodafone Idea on Tuesday reported a consolidated profit after tax (PAT) at Rs 6,563 crore for the fourth quarter ended 31 March, 2022. The year-on-year loss narrowed from Rs 7,023 crore in the same quarter last fiscal.
Revenue from operations increased Rs 10,240 crore in the quarter under review from Rs 9,608 crore a year ago, a growth of 6.5 per cent YoY, supported by tariff hikes effective Nov 25, 2021.
VIL also stated that its average daily revenue saw growth of 7.7 per cent QoQ, highest quarterly growth since merger, while its average revenue per user (ARPU) stood at Rs 124 vs Rs. 115 in prior quarter, a QoQ increase of 7.5 per cent.
The telco's EBITDA improved to Rs. 21.2 billion, compared to Rs. 16.2 billion in Q3FY22. It also added that it saw "continued network capacity expansion supported by spectrum refarming and network upgrade to 4G."
As of March-end, VIL's net debt stood at Rs 1,96,420 crore.
Commenting on the results, Ravinder Takkar, MD & CEO, Vodafone Idea Limited, said “We are pleased to announce third consecutive quarter of revenue growth driven by tariff interventions taken in November 2021. While the overall subscriber base has been impacted primarily on account of the tariff increase, the 4G subscriber base continued to grow on the back of superior data and voice experience offered by Vi GIGAnet"
:We are in the process of creating differentiated digital experience for our customers and added several new digital offerings across various genres during the quarter. We successfully completed first tranche of fund raising in the form of preferential equity contribution of Rs. 45 billion from our promoters. We continue to actively engage with lenders and investors for further fund raising," he added.
Shares of Vodafone Idea on Tuesday closed 2.46 per cent lower at Rs 8.74 apiece on BSE.
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