Vodafone Idea (Vi), India’s third-largest telecom company, disclosed revenue of ₹10,673 crore in the previous quarter, showing a marginal uptick from the corresponding period the previous year. Vi revealed that ongoing discussions with technology partners are shaping its 5G rollout strategy, incorporating advanced trials with virtual Radio Access Network (vRAN) and Open Radio Access Network (ORAN) technologies.
Commenting on the financial report, Akshaya Moondra, CEO of Vodafone Idea Limited, said, “We are delighted to announce the highest EBITDA (pre-IndAS 116) of Rs. 21.4 billion in the past 11 quarters. Aligning with the dynamic industry landscape and evolving customer preferences, we have revitalized our offerings and sharpened our execution strategies to compete effectively in the market.
Consequently, we have achieved consecutive growth in our 4G subscribers and ARPUs over the last 10 quarters. We continue active engagement with various stakeholders for fundraising to support essential investments in network expansion, including the rollout of 5G.”
In December 2023, Vi’s losses narrowed to ₹6,986 crore, compared to ₹7,990 crore a year ago. Furthermore, the Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) saw growth, reaching ₹4,350 crore, with margins improving to 40.8%.
Vi grapples with impending challenges concerning debt repayment and crucial capital expenditure. With approximately ₹5,400 crore in debts due in the next fiscal year, including spectrum payouts, bank debt, and Other Convertible Debentures (OCDs), strategic financial decisions become crucial.
The telecom giant directs capital investments toward expanding its high-speed broadband network in 17 priority circles. Vi’s 4G network, catering to over 1 billion Indians, boasts 125.6 million subscribers. The company highlighted the 10th consecutive quarter of growth for its 4G subscriber base, reaching 125.6 million in Q3FY23. Vi introduced a new brand campaign, ‘Be Someone’s We,’ emphasizing emotional affinity and positive consumer connection.
Vi shared that it has integrated utility bill payment functionality on the Vi app, covering electricity, water, LPG bills, FASTAG, and DTH or broadband subscriptions. Additionally, a ‘shop’ section on the Vi app has been launched in collaboration with leading players, expanding its service offerings.
Vi highlighted its recognition as the exclusive provider of ‘Rich Business Messaging’ services, delivering 2 billion messages. Vi Business was honored with the Frost and Sullivan Best Practices Awards for leadership in Smart Mobility solutions and SIP Trunking services.
