NEW DELHI: Debt-ridden telecom operator Vodafone Idea on Thursday reported widening of losses to Rs 7,675 crore in the March quarter amid an increase in curiosity and financing value, whereas its total subscriber base shrunk. The firm had registered a loss of Rs 6,419 crore in the year-ago interval.
The consolidated income of operations remained nearly flat at Rs 10,607 crore throughout the reported quarter.
VIL reported enhancements in Average Revenue Per User (ARPU) however its total subscriber base shrunk each sequentially and 12 months over 12 months.
The curiosity and finance value of the corporate elevated by about 27 per cent to Rs 6,247.8 crore from Rs 4907.8 crore in the corresponding quarter a 12 months in the past.
For the 12 months ended March 31, 2024, Vodafone Idea (VIL) posted widening of loss to Rs 31,238.4 crore from Rs 29,301.1 crore a 12 months in the past.
The annual income from operations was marginally increased by 1.1 per cent to Rs 42,651.7 crore from Rs 42,177.2 crore in 2022-23.
“We registered growth in ARPU and 4G subscribers for 11 successive quarters. Our equity fundraise of about Rs 215 billion (Rs 21,500 crore) will enable us to kickstart the investment cycle to expand our 4G coverage as well as launch 5G services to effectively participate in the industry growth opportunities.
“We are engaged with our lenders for tying up debt funding in direction of the execution of our total community enlargement plan,” VIL CEO Akshaya Moondra said in a statement.
The company has approval of the board to raise Rs 45,000 crore of which it has already raised Rs 20,075 crore comprising Rs 18,000 crore through follow-on-public offer (FPO) and Rs 2,075 crore through preferential equity allotment to an Aditya Birla Group firm.
Aditya Birla Group holds a 17.5 per cent stake in the company, Vodafone Group has 31.4 per cent and the government has 32.2 per cent share in the company.
“Equity funding, debt funding together with non-fund based mostly amenities are to be utilised primarily in direction of capex which is anticipated to be in the vary of Rs 500 to 550 billion over subsequent 3 years. The capex will probably be in direction of increasing 4G inhabitants protection in 17 precedence circles, 5G launch in key cities and geographies and capability enlargement to tackle the rising knowledge demand,” the statement said.
The company’s capex spend for the quarter stood at Rs 550 crore, and capex for the year at Rs 1850 crore.
VIL said that it is in discussions with a consortium of banks to raise up to Rs 25,000 crore and additional non-fund based facilities of up to Rs 10,000 crore.
“Post the telecom reforms package deal in September 2021, our financial institution publicity has decreased by roughly Rs 346 billion (Rs 34,600 crore),” the statement said.
The total debt of the company stood at around Rs 2,07,630 crore.
“The complete debt from banks and monetary establishments stood at Rs 4,040 crore and Optionally Convertible Debentures at Rs 160 crore as of March 31, 2024. The debt from banks and monetary establishments decreased by Rs 7,090 crore over the last one 12 months. The cost obligations to the federal government stood at Rs 2,03,430 crore as of March 31, 2024, together with deferred spectrum cost obligations of Rs 1,33,110 crore and AGR legal responsibility of Rs 70,320 crore,” the statement said.
The total customer base of VIL declined by 5.7 per cent to 21.3 crore from 22.6 crore in the March 2023 quarter. The company reported an increase in the share of post-paid customers of about 1.3 per cent on YoY basis.
The 4G subscriber base of VIL increased to 12.63 crore from 12.26 crore on YoY basis.
The average data consumed by 4G subscribers grew by 2.3 per cent to 15.44 GB.
Average revenue per user (ARPU) of the company grew 7.6 per cent on a year-over-year basis to Rs 146. On a sequential basis too, it was higher than Rs 145 in the preceding December quarter.
The company has focussed investment towards 17 priority circles as they account for around 98 per cent of its total revenues.
“We have shut down 3G utterly in 6 circles with Kerala getting added to the checklist of 5 different circles; particularly Maharashtra, Gujarat, Andhra Pradesh, Mumbai and Kolkata the place 3G spectrum is totally refarmed to 4G. Our 4G community covers over 1 billion Indians. We have accomplished minimal rollout obligations for 5G in 4 circles of Maharashtra, Delhi, Tamil Nadu, and Punjab,” the assertion stated.
The consolidated income of operations remained nearly flat at Rs 10,607 crore throughout the reported quarter.
VIL reported enhancements in Average Revenue Per User (ARPU) however its total subscriber base shrunk each sequentially and 12 months over 12 months.
The curiosity and finance value of the corporate elevated by about 27 per cent to Rs 6,247.8 crore from Rs 4907.8 crore in the corresponding quarter a 12 months in the past.
For the 12 months ended March 31, 2024, Vodafone Idea (VIL) posted widening of loss to Rs 31,238.4 crore from Rs 29,301.1 crore a 12 months in the past.
The annual income from operations was marginally increased by 1.1 per cent to Rs 42,651.7 crore from Rs 42,177.2 crore in 2022-23.
“We registered growth in ARPU and 4G subscribers for 11 successive quarters. Our equity fundraise of about Rs 215 billion (Rs 21,500 crore) will enable us to kickstart the investment cycle to expand our 4G coverage as well as launch 5G services to effectively participate in the industry growth opportunities.
“We are engaged with our lenders for tying up debt funding in direction of the execution of our total community enlargement plan,” VIL CEO Akshaya Moondra said in a statement.
The company has approval of the board to raise Rs 45,000 crore of which it has already raised Rs 20,075 crore comprising Rs 18,000 crore through follow-on-public offer (FPO) and Rs 2,075 crore through preferential equity allotment to an Aditya Birla Group firm.
Aditya Birla Group holds a 17.5 per cent stake in the company, Vodafone Group has 31.4 per cent and the government has 32.2 per cent share in the company.
“Equity funding, debt funding together with non-fund based mostly amenities are to be utilised primarily in direction of capex which is anticipated to be in the vary of Rs 500 to 550 billion over subsequent 3 years. The capex will probably be in direction of increasing 4G inhabitants protection in 17 precedence circles, 5G launch in key cities and geographies and capability enlargement to tackle the rising knowledge demand,” the statement said.
The company’s capex spend for the quarter stood at Rs 550 crore, and capex for the year at Rs 1850 crore.
VIL said that it is in discussions with a consortium of banks to raise up to Rs 25,000 crore and additional non-fund based facilities of up to Rs 10,000 crore.
“Post the telecom reforms package deal in September 2021, our financial institution publicity has decreased by roughly Rs 346 billion (Rs 34,600 crore),” the statement said.
The total debt of the company stood at around Rs 2,07,630 crore.
“The complete debt from banks and monetary establishments stood at Rs 4,040 crore and Optionally Convertible Debentures at Rs 160 crore as of March 31, 2024. The debt from banks and monetary establishments decreased by Rs 7,090 crore over the last one 12 months. The cost obligations to the federal government stood at Rs 2,03,430 crore as of March 31, 2024, together with deferred spectrum cost obligations of Rs 1,33,110 crore and AGR legal responsibility of Rs 70,320 crore,” the statement said.
The total customer base of VIL declined by 5.7 per cent to 21.3 crore from 22.6 crore in the March 2023 quarter. The company reported an increase in the share of post-paid customers of about 1.3 per cent on YoY basis.
The 4G subscriber base of VIL increased to 12.63 crore from 12.26 crore on YoY basis.
The average data consumed by 4G subscribers grew by 2.3 per cent to 15.44 GB.
Average revenue per user (ARPU) of the company grew 7.6 per cent on a year-over-year basis to Rs 146. On a sequential basis too, it was higher than Rs 145 in the preceding December quarter.
The company has focussed investment towards 17 priority circles as they account for around 98 per cent of its total revenues.
“We have shut down 3G utterly in 6 circles with Kerala getting added to the checklist of 5 different circles; particularly Maharashtra, Gujarat, Andhra Pradesh, Mumbai and Kolkata the place 3G spectrum is totally refarmed to 4G. Our 4G community covers over 1 billion Indians. We have accomplished minimal rollout obligations for 5G in 4 circles of Maharashtra, Delhi, Tamil Nadu, and Punjab,” the assertion stated.
