Vodafone Idea Q2 Results: Loss Widens Despite Revenue Growth, ARPU Gains
The company reported a sequential growth of 2.3% in average revenue per user to Rs 131 in the September quarter.
Despite a rise in revenues on account of insurance, Vodafone Idea saw its net loss widen during the quarter ended Sept. 30, 2022. The loss widened due to rising financing costs and a loss in share from JVs and associates.
The embattled telecom player reported a 4% rise in consolidated net loss at Rs 7,595.50 crore, against a Bloomberg estimate of Rs 6,974.93 crore.
Revenue from operations increased 2% during the quarter to Rs 10,614.6 crore, compared with an estimated loss of Rs 10,518.88 crore.
Vodafone Idea Q2 FY23 (Consolidated QoQ)
Ebitda declined 5% to Rs 4,097.5 crore, compared with an estimated Rs 4,496.43 crore.
Ebitda margin stood at 38.6%, versus 41.6% in the previous quarter and an estimate of 44.3%.
The company reported a sequential growth of 2.3% in average revenue per user to Rs 131 in the September quarter.
The company's subscriber base declined to 234.4 million from 240.4 million in the first quarter of the current fiscal. However, the company reported an addition of 1.5 million 4G customers during the quarter under review, taking the 4G subscriber base to 120.6 million.
Data usage per broadband customer was around 15 GB per month, rising 5.4% sequentially. The blended subscriber churn for the quarter was higher at 4.3% compared to 3.5% in the June quarter of the current fiscal.
Vodafone Idea shares closed 0.12% higher on the BSE ahead of the results, compared to a 0.11% decline in the Sensex.