Vodafone Idea Q2 results: Loss narrows to Rs 5,524 crore; ARPU rises to Rs 180; shares AGR update

Vodafone Idea Ltd on Monday reported a narrower consolidated net loss of Rs 5,524.2 crore for the July–September quarter (Q2 FY26), compared with Rs 7,175.9 crore in the corresponding period last year.

Revenue for the quarter stood at Rs 11,190 crore, marking a year-on-year (YoY) growth of 2.4 per cent. Reported EBITDA was Rs 4,690 crore, while cash EBITDA excluding Ind AS 116 impact came in at Rs 2,250 crore, compared to Rs 2,320 crore in Q2 FY25.

The telecom operator's capex was Rs 1,750 crore during the quarter and Rs 4,200 crore for the first half of FY26. As of September 30, 2025, Voda Idea's debt from banks stood at Rs 1,530 crore, while its cash and bank balance was Rs 3,080 crore.

AGR update

Vodafone Idea said, "We welcome the Hon'ble Supreme Court's judgement dated October 27, 2025 and November 3, 2025 whereby the Union of India is permitted to reconsider and take an appropriate decision with reference to the additional AGR demand raised for the period up to the Financial Year 2016-2017 and comprehensively reassessing and reconciling all AGR dues, including interest and penalty, up to the said Financial Year. We are in discussion with the DoT for next steps on this matter."

Operational performance

The company's average revenue per user (ARPU) rose to Rs 180 in Q2 FY26 from Rs 166 in Q2 FY25, a YoY increase of 8.7 per cent, "supported primarily by customer upgrades and tariff increase." Voda Idea's total subscriber base stood at 196.7 million, with 127.8 million 4G/5G subscribers, up from 125.9 million a year ago.

5G expansion

"We launched Vi 5G services in March this year and over a period of six months expanded to all 17 priority circles where we hold 5G spectrum. These circles contribute to ~99 per cent of our revenue. As of today, Vi 5G services are available in 29 cities and we will continue to expand to more cities based on customer demand and 5G handset penetration," the company said.

The earnings were disclosed post-market hours. Earlier in the day, Voda Idea shares settled 1.04 per cent lower at Rs 9.51.