Vodafone Idea Q2 Results: Net loss narrows to ₹5,524 crore; ARPU rises to ₹180

Vodafone Idea announced its financial performance for the September-ending quarter on November 10, post-market hours, reporting a net loss of ₹5,524.2 crore, lower than the net loss of ₹7,176 crore recorded in the same period last year.

Sequentially, the net loss also narrowed from ₹6,608 crore reported in the preceding June quarter.

Its consolidated revenue from operations stood at ₹11,194.7 crore during the reported quarter, marking a 2.4% increase from ₹10,932.2 crore in the September 2024 quarter, led by higher ARPU.

The average revenue per user (ARPU), a key metric for telecom companies, came in at ₹180, above analysts’ estimates of ₹166, supported primarily by customer upgrades and tariff increase.

The ARPU rose 8.45% from ₹166 in Q2FY25 but was slightly lower than ₹177 in Q1FY26.

At the operating level, the company reported an EBITDA of ₹4,685.1 crore compared with ₹4,549.8 crore in the year-ago quarter, with margins improving to 41.9% from 41.6%.

The higher ARPU was driven by the addition of 4G users, as the company’s investments in expanding its 4G coverage over recent quarters have started yielding results.

Its 4G population coverage rose to over 84% as of September 2025, up from 77% in March 2024. During the same period, 4G data capacity expanded by more than 38%, leading to a 17% improvement in 4G speeds.

With the planned investments, the company expects 4G population coverage to reach approximately 90%.

It closed the September quarter with 127.8 million 4G/5G subscribers, up from 125.9 million in the same period last year.

While its 4G/5G subscriber base grew marginally, the total subscriber base stood at 196.7 million, down from 197.7 million reported in the first quarter of FY26.

The company launched Vi 5G services in March this year and, over six months, expanded coverage across all 17 priority circles where it holds 5G spectrum—regions that together contribute nearly 99% of its revenue.

The company, in its earnings filing, stated that it continues to invest in capex and to support its broader capex plans of ₹500–550 billion and remains engaged with lenders to secure debt financing. The capex for the September quarter stood at Rs.17.5 billion.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.