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Vodafone Idea declares Q2 loss backed by higher expenses, subscriber loss

1 min read . Updated: 03 Nov 2022, 08:37 PM IST Livemint

Vodafone Idea Q2 Results (Mint) — Vodafone Idea Q2 Results **(Mint)**

India's Vodafone Idea Q2 loss widens on higher expenses, subscriber loss

Vodafone Idea, in Q2FY23, reported net revenue of 10,614.6 crore compared to ₹10410.10 Cr in Q1FY23, representing a QoQ growth of 1.96%. In the quarter ended September, the company reported an EBITDA of ₹4097.50 Cr compared to ₹4328.40 Cr reported in the quarter ended June, representing a QoQ fall of 5.33%.

The EBITDA margin slipped to 38.6% in Q2FY23 from 41.6% in Q1FY23. The company reported a loss in net profit of ₹7595.50 Cr in Q2FY23 compared to the loss of ₹7296.70 Cr in Q1FY23, and a loss of ₹7,132 crore a year ago quarter.

Akshaya Moondra, CEO, Vodafone Idea Limited, 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. In the recently held IMC, we showcased a wide range of 5G offerings for our enterprise and consumers on the Vi 5G Live network. Our board has recently approved issuance of Optionally Convertible Debentures amounting to Rs. 16 billion to ATC India. We continue to remain engaged with our lenders and investors for further fund raising to make required investmentsfor network expansion and 5G rollout."

The company has said that the “Board approved issuance of Optionally Convertible Debentures (OCDs) amounting to Rs. 16 billion to ATC Telecom Infrastructure Private Limited (ATC India) subject to conditions precedent."

The ARPU for the quarter grew by 19.5% year on year to Rs. 131 from Rs. 128 in Q1FY23. Due to Vi GIGAnet's superior data experience, the number of 4G subscribers climbed to 120.6 million (up from 119.0 million in Q1FY23). According to TRAI "MyCall" app data, Vi continues to provide the best voice quality for 20 out of the 23 months between November 2020 and September 2022.