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Telecom major Vodafone Idea on Tuesday reported a consolidated net loss of Rs 6,563 crore for the quarter ended March. The company has narrowed its loss by 6.5 per cent as it reported a net loss of Rs 7,023 crore in the corresponding quarter last fiscal year.
Revenue for the quarter was Rs 10,240 crore, up 6.46 per cent from Rs 9,647.8 crore in the year-ago period and up by 5.4 per cent quarter-on-quarter (QoQ).
The company reported ARPU of Rs 124 during the quarter as compared to Rs 115 in Q3FY22.
“We are pleased to announce third consecutive quarter of revenue growth driven by tariff interventions taken in November 2021.
While the overall subscriber base has been impacted primarily on account of the tariff increase, the 4G subscriber base continued to grow on the back of superior data and voice experience offered by Vi GIGAnet.
“We are in the process of creating differentiated digital experience for our customers and added several new digital offerings across various genres during the quarter. We successfully completed first tranche of fund raising in the form of preferential equity contribution of Rs. 45 billion from our promoters. We continue to actively engage with lenders and investors for further fund raising,” said Ravinder Takkar, MD & CEO, Vodafone Idea Limited. The company’s net debt stood at Rs 1.96 trillion at March-end.
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