Vodafone Idea Limited (Vi) has announced its audited consolidated financial results for the fourth quarter and full-year ended March 31, 2024.
The consolidated revenues for the reported quarter stood at Rs 106.1 billion, a year-over-year (YoY) improvement of 0.7 per cent aided by improving subscriber mix, 4G subscriber additions and change in entry level plan. On a reported basis, company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter grew by 3 per cent on YoY basis from Rs 42.1 billion in the fourth quarter (Q4) of the fiscal year 2022-23 (FY23) to Rs 43.4 billion in Q4 FY24, and EBITDA margin for the quarter was reported as 40.9 per cent. Meanwhile, EBITDA pre-IndAS116 grew by 5.4 per cent on YoY basis to Rs 21.8 billion compared to Rs 20.7 billion in Q4 FY23. This is highest quarterly EBITDA post-merger.
For the full year, the company’s revenue grew by 1.1 per cent from Rs 421.8 billion to Rs 426.5 billion as a result, EBITDA for the year increased from Rs 83 billion to Rs 84 billion registering a growth of 1.3 per cent.
The company further reported that its revenue from operations increased marginally at Rs 106.06 billion from Rs 105.31 billion in the same quarter last fiscal. Furthermore, the company’s average revenue per user (ARPU) grew marginally to Rs 146 from Rs 145 in Q3 FY24 and Rs 135 in Q4 FY23, primarily aided by change in entry-level plan and subscriber upgrades.
Commenting on the results, Akshaya Moondra, chief executive officer (CEO), Vi, said, “We are pleased to report annual revenue and EBITDA (pre IndAS) growth for the second consecutive year on the back of consistently improving performance for last several quarters despite significantly lower investments; a clear reflection of our execution capabilities. We registered growth in ARPU and 4G subscribers for 11 successive quarters. Our equity fund raise of around Rs 215 billion will enable us to kickstart the investment cycle to expand our 4G coverage as well as launch of 5G services to effectively participate in the industry growth opportunities. We are engaged with our lenders for tying up debt funding towards the execution of our overall network expansion plan.”
