Vodafone Idea Limited (Vi) has announced its financial results for the quarter ending (QE) September 30, 2022. The operator has reported a revenue growth of 2 per cent on quarter-on-quarter (Q-o-Q) basis to Rs 106.1 million. Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) for the operator improved to Rs 21.2 billion, as against Rs 21.1 billion in the previous quarter.
However, Vi’s net loss for the period widened to Rs 75.95 billion sequentially from Rs 72.96 billion in the previous quarter, owing to higher finance and operating costs along with high rate of subscriber loss.
Meanwhile, average revenue per user (ARPU) for the quarter stood at Rs 131, witnessing a growth of 19.5 per cent on year-on-year (Y-o-Y) basis. Besides, Vi’s 4G subscriber base increased to 120.6 million, as compared to 119.0 million in the previous quarter.
Commenting on the release, Akshaya Moondra, CEO, Vi, said, “We are pleased to report fifth consecutive quarter of revenue growth and 4G subscriber addition. Such performance is primarily driven by the continued increase in 4G subscriber base on the back of superior data and voice experience offered by Vi GIGAnet. In the recently held India Mobile Congress (IMC), we showcased a wide range of 5G offerings for our enterprise and consumers on the Vi 5G Live network. Our board has recently approved issuance of optionally convertible debentures amounting to Rs 16 billion to ATC India. We continue to remain engaged with our lenders and investors for further fund raising to make required investments for network expansion and 5G rollout.”
