Revenue from operations increased marginally to Rs 10,673.1 crore in Q3 FY24 as compared with Rs 10,620.6 crore posted in Q3 FY23, supported by improving subscriber mix, 4G subscriber additions and change in entry level plan.

The telecom operator’s pre-tax loss reduced to Rs 6,986.7 crore in Q3 FY24 as against Rs 7,989.7 crore recorded in the corresponding quarter previous year.

On a reported basis, EBITDA for the quarter grew 4.05% to Rs 4,350.4 crore from Rs 4,180.8 crore in Q3 FY23. EBITDA margin improved 140 bps YoY to 40.8% during the period under review. EBITDA excluding IndAS116 impact grew 6.8% on YoY basis to Rs 21.4 billion compared to Rs 20 billion in Q3 FY23, which is highest pre-IndAS116 EBITDA in last 11 quarters.

Capex spend for the third quarter of FY24 stood at Rs 330 crore.

The total gross debt (excluding lease liabilities and including interest accrued but not due) as of 31 December 2023 stood at Rs 2,14,960 crore comprising of deferred spectrum payment obligations of Rs 1,38,240 crore and AGR liability of Rs 69,020 crore that are due to the Government, debt from banks and financial institutions of Rs 6,050 crore and optionally convertible debentures amounting to Rs 1,660 crore.

The net debt stood at Rs 2,14,640 crore. The debt from banks and financial institution reduced by Rs 7,140 crore during the last one year.

The 4G subscriber base continued to grow for the tenth successive quarter and stood at 125.6 million as on 31 December 2023 as against 121.6 million in Q3 FY23, an addition of 4.1 million 4G subscribers.The overall subscriber base stood at 215.2 million.

Average revenue per user (ARPU) improved to Rs 145, up 7.4% on YoY basis as compared to Rs 135 in Q3 FY23, primarily aided by change in entry level plan and subscriber upgrades. The telecom major stated that it continued to see high data usage per broadband customer at approximately 15.8 GB per month with the total data traffic for the quarter witnessing QoQ growth of 4.2%.

Akshaya Moondra, CEO of Vodafone Idea said “We are pleased to report highest EBITDA (pre-IndAS 116) of Rs. 21.4 billion in last 11 quarters. In line with the evolving industry landscape and changing customer needs, we have revamped our offerings as well as focusing on our execution to effectively compete in the market. Resultantly, we are able to grow our 4G subscribers and ARPUs consecutively for last 10 quarters. We remain engaged with various parties for fund raising, to make required investments for network expansion, including 5G rollout.”

Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is amongst India's leading telecom service provider. The company provides pan India voice and data services across 2G, 3G and 4G platforms. The company holds large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave 5G spectrum in 16 circles.

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