Vodafone Idea’s loss narrows to ₹7,176 Crore in Q2

14 Nov 2024 , 09:31 AM

Vodafone Idea announced that the company has narrowed its losses to ₹7,176 Crore in Q2FY25, as compared to ₹8,738 Crore in the previous corresponding quarter.

The company said that it’s revenue from operations in the reporting period jumped slightly by 2% y-o-y to ₹10,932 Crore.

On a quarter-on-quarter basis, company’s net loss grew from ₹6,432 Crore reported in the June 2024 quarter. However, revenues for the current quarter improved 4%, led by recent increase in tariff prices undertaken by all telco operators.

Vodafone Idea’s EBITDA for the quarter under review increased to ₹4,550 Crore as against ₹4,283 Crore reported in the previous year’s same quarter.

Cash EBITDA excluding the impact of Ind AS 116 increased to ₹2,320 Crore, the highest since the merger, up 10% quarter on quarter.

Capex spending for Q2FY25 was ₹1,360 Crore, compared to ₹760 Crore in the preceding June quarter. The anticipated capital expenditure for H2FY25 is ₹8,000 Crore.

The debt of financial institutions and banks declined by ₹4,580 Crore billion in the previous fiscal year, and came in at ₹3,250 Crore. The telco’s cash and bank balance were reported at ₹13,620 Crore in September 2024.

At the end of the September quarter, the government’s payment commitments totalled ₹2.12 Lakh Crore, which included ₹1.41 Lakh Crore in postponed spectrum payments and an AGR debt of ₹70,320 Crore.

The latest tariff hikes harmed the subscriber base, especially 4G subscribers. The 4G subscriber base reached 125.9 Million at the end of Q2FY25, up from 126.7 Million in Q1FY25.

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