Vodafone Idea’s consolidated loss after tax widened to Rs 7,595.5 crore for the three months ended September 2022 (Q2) from Rs 7,296.7 crore in the same period a year ago.
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The company said its subscriber base declined to 234.4 million from 240.4 million in the first quarter
Akshaya Moondra, CEO, Vodafone Idea, said “We are pleased to report fifth consecutive quarter of revenue growth and 4G subscriber addition. Such performance is primarily driven by the continued increase in 4G subscriber base on the back of superior data and voice experience offered by Vi GIGAnet.”
“Our board has recently approved issuance of Optionally Convertible Debentures amounting to Rs 1600 crore to ATC India. We continue to remain engaged with our lenders and investors for further fund raising to make required investments for network expansion and 5G rollout.”
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Revenue for the quarter was at Rs 10,614 crore, a quarter-on-quarter improvement of 2.0 per cent. On a year-on-year basis, revenue growth was at 12.8 per cent. Capex spend for the quarter stands at Rs 1210 crore against Rs. 840 crore in Q1FY23.
The total gross debt (excluding lease liabilities and including interest accrued but not due) as of September 30, 2022 stands at Rs 220,320 crore, comprising of deferred spectrum payment obligations of Rs 136,650 crore (including Rs 17,260 crore towards spectrum acquired in recent spectrum auction) and AGR liability of Rs 68,590 crore that are due to the Government, and debt from banks and financial institutions of Rs 15080 crore.
“We continue to focus on expanding our high-speed broadband network coverage and capacity. We also continue to refarm 2G/3G spectrum to expand our 4G coverage and capacity as well as upgrade our core and transmission network. We have shut down 19,000 3G sites during the quarter while we added 8,500 4G sites. Our overall broadband site count stood at 444,228 as of September 2022. Till date, we have deployed 74,300 TDD sites in addition to the deployment of 13,800 massive MIMO sites and 13,200 small cells,” it said.
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“Our 4G network covers over 1 billion Indians as of September 30, 2022 (4G coverage is the population reached/covered by VIL with its 4G network). These network investment initiatives continue to deliver a significant uplift to our overall data capacity,” the company said.
