Vodafone Idea’s woes are not over, with a loss of Rs 7,840 crore in the first quarter

Vodafone Idea Q1 Results: Troubled telecom operator Vodafone Idea is facing no sign of abating. In the financial year 2023-24, the company’s losses have once again seen an increase. Vodafone Idea reported a loss of Rs 7,840 crore in the April-June quarter, up 7 percent from the same quarter last year when it posted a loss of Rs 7,297 crore in the same quarter. While the company’s loss in its first quarter between January and March was Rs 6,419 crore.

Vodafone Idea’s revenue rose marginally by 2 percent in the first quarter of the fiscal year. The company’s income from operations stood at Rs 10,655 crore, as against Rs 10,410 crore in the same quarter last year. At the same time, the company’s average revenue per user (ARPU) stood at Rs 139, up from Rs 135 in its first quarter. That is, there is a slight increase in ARPU of 2.9%.

At the end of the April-June quarter, the company’s total debt has reached Rs 2.11 lakh crore. Out of which Rs 1.33 lakh crore is due for deferred spectrum payment, out of which Rs 66,860 crore is due towards AGR, which is payable to the Govt. During this period, the credit of banks and financial institutions has decreased and it has come down to Rs 5700 crore. The company’s subscriber base declined to 221 million from 225.9 million in the previous quarter.

Akshay Mondra, CEO of the company, said, “This is the eighth quarter that the company has seen a daily increase in revenue, ARPU, 4G subscribers, which shows that we have the ability to operate efficiently and in the market. It has the ability to survive. “We are in talks with our lenders to take more loans,” he said. Together we are discussing raising funds through equity so that we can expand our network and roll out 5G service.

Also read this

Retail Inflation Data: Retail inflation hit 15-month high, retail inflation stood at 7.44 percent in July.

Leave a Comment