Vodafone Idea Limited (Vi) has released its financial results for the quarter ended (QE) on December 31, 2024. According to the company, its net loss reduced to Rs 66.10 billion from Rs 71.75 billion in the third quarter (Q3) of financial year 2023-24 (FY24). This was despite a 1.7 per cent sequential quarter-over-quarter (QoQ) rise in revenue from operations to Rs 111.2 billion from Rs 109.3 billion.
Further, the average revenue per user (ex M2M) came in 4.7 per cent higher at Rs 173 against Rs 166 in Q2 FY25.
Furthermore, the 4G population coverage by 41 million reaching 1.07 billion in Q2 FY25. During the same period, their 4G data capacity expanded by 24 per cent, driving 28 per cent improvement in 4G speeds. As per the company, 4G expansion is in progress and it targets 4G population coverage of 1.1 billion by March 2025 and 1.2 billion by September 2025 (i.e. 90 per cent of the population). The commercial launch of 5G services in Mumbai is planned for March 2025 and Delhi, Bangalore, Chandigarh and Patna for April 2025.
Moreover, capital expenditure (CapEx) spends for Q3 FY25 stood at Rs 32.1 taking the capex for the nine months to Rs. 53.3 billion. The network rollout will accelerate further in Q4FY25 with the full year expected capex of Rs. 100 billion.
The telco’s debt from banks and financial institutions decreased by Rs 52.9 billion and year-on-year (YoY) to Rs 23.30 billion from Rs 76.20 billion in Q3 FY24. The cash and bank balance stood at Rs. 120.9 billion as of December 31, 2024.
Meanwhile, earnings before interest, taxation, depreciation and amortisation (EBITDA) were recorded at Rs 47.12 billion as compared to Rs 45.50 billion in Q3 FY25.
Commenting on the results, Akshaya Moondra, chief executive officer, Vi, said “We are driving investments and the velocity of capex deployment is set to accelerate in the coming quarters. Concurrently, the phased rollout of 5G services is underway, targeting key geographies. We are pleased to report highest quarterly cash EBITDA since merger of Rs. 24.5 billion, registering a YoY growth of 15 per cent. With our intensifying investments, we anticipate further improvement in both operational and financial performance. With the recent equity infusion of Rs. 19.1 billion from one of our promoters, we have now secured approximately Rs.260 billion in fresh equity capital over the past 10 months. In parallel, we continue to engage with lenders for debt financing, aligning with our planned network expansion investment of Rs. 500–550 billion over a three-year period. The government’s decision on the bank guarantee waiver underscores its ongoing support for the telecom sector—a critical pillar of Digital India’s future.”
