Vi loss widens to Rs 7,674 cr; eyes 25K crore fundraising

The telco’s revenue from operations increased to Rs 10,606 crore from Rs 10,531 crore in the same quarter last fiscal.
Vodafone-Idea image used for representation
Vodafone-Idea image used for representation

NEW DELHI: Telecom service provider Vodafone Idea reported a net loss of Rs 7,674 crore for the quarter ending March 31, 2024. The company’s loss widened in the quarter under review from Rs 6,418.9 crore in the year-ago period.

The telco’s revenue from operations increased to Rs 10,606 crore from Rs 10,531 crore in the same quarter last fiscal.

The EBITDA of the company stood at Rs 4,336 crore in the fourth quarter of this fiscal over Rs 4,210.30 crore in the previous year. “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,” said Akshaya Moondra, CEO, Vodafone Idea.

Vodafone Idea recently raised Rs 18,000 crore from FPO. The company further mentioned that it is in discussions with banks to raise Rs 25,000 crore and additional non-fund-based facilities of up to Rs 10,000 crore. As per the company, post the Telecom reforms package in September 2021, its bank exposure has reduced by Rs 34,600 crore.

“Our equity fundraise of 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. ,” said Moondra. The company improved its ARPU to Rs 146, up 7.6% on YoY basis from Rs 135 in Q4FY23.

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