NEW DELHI: Telecom operator Vodafone Idea Limited (VIL) reported widening of consolidated net loss to Rs 7,231 crore for the quarter ending December 31, 2021.The third largest telecom firm of India had reported net loss of Rs 4,532 crore in the year-ago period. However, the company said it had improved its Average Revenue Per Users (ARPU) to Rs 115, up 5.2%, as against Rs 109 in Q2FY22.
After increasing the tariff in November, Vodafone Idea witnessed decline in its subscriber base to 247.2 million vs 253.0 million in Q2FY22. But the good news for the telco is its 4G subscriber continued to grow. With 0.8 million customers added in Q3, 4G base now stands at 117.0 million. Subscriber churn increased to 3.4% in Q3FY22 vs 2.9% in Q2FY22.
“We are pleased to announce the second consecutive quarter of revenue growth driven by several tariff interventions taken in the last few months. While the overall subscriber base has declined as a result of the tariff interventions, the 4G subscriber base remained resilient on the back of superior data and voice experience offered by Vi GIGAnet,” said Ravinder Takkar, MD & CEO of Vodafone Idea Limited.
“We remain focused on executing our strategy to improve our competitive position and win in the marketplace. Separately, we have opted for upfront conversion of interest arising from deferment of spectrum and AGR dues into equity,” Takkar added.
The company said its net debt stands at Rs 1.989 lakh crore as of December end. It comprises deferred spectrum payment obligations of Rs 1.113 lakh crore, AGR liability of Rs 64,620 crore that are due to the government and debt from banks and financial institutions of Rs 23,060 crore. On Friday, Vodafone Idea’s scrip on BSE closed trading 1.2% lower at Rs 11.90.