Vodafone Idea's net loss is higher as compared with loss of Rs 6,985.9 crore recorded in Q3 FY24.

Revenue from operations increased marginally to Rs 10,606.8 crore in Q4 FY24 as against Rs 10,531.9 crore posted in Q4 FY23, aided by improving subscriber mix, 4G subscriber additions and change in entry level plan.

The company reported a pre-tax loss of Rs 7,665.9 crore in Q4 FY24 as against a pre-tax loss of Rs 6,423.6 crore recorded in the corresponding quarter previous year.

EBITDA for the quarter grew 2.98% to Rs 4,335.8 crore from Rs 4,210.3 crore in Q4 FY23. EBITDA margin improved to 40.9% in Q4 FY24 as compared to 40% posted in the same period a year ago.

The telecom operator said that the 4G subscriber base continued to grow for the eleventh successive quarter. The 4G subscriber base stood at 126.3 million at the end of Q4 FY24 as compared with 122.6 million recorded in Q4 FY23, an addition of 3.7 million 4G subscribers over last one year. The overall subscriber base stood at 212.6 million.

Average revenue per user (ARPU) grew by 7.6% YoY to Rs 146 as compared to Rs 135 recorded in Q4 FY23, primarily aided by change in entry level plan and subscriber upgrades. The total data traffic for the quarter witnessed a YoY growth of 4.3%

On full year basis, the company’s consolidated net loss increased to Rs 31,238.4 crore in FY24 as compared to Rs 29,301.1 crore in FY23. Revenue grew by 1.13% YoY to Rs 42,651.7 crore in FY24.

Capex spend for the quarter stood at Rs 550 crore and capex for the year at Rs 1,850 crore.

The total debt from banks and financial institutions stood at Rs 4,040 crore and optionally convertible debentures at Rs 160 crore as of 31 March 2024. The debt from banks and financial institutions reduced by Rs 7,090 crore during the last one year. The cash and bank balance stood at Rs 170 crore as of 31 March 2024.

The payment obligations to the Government stood at Rs 2,03,430 crore as of 31 March 2024 including deferred spectrum payment obligations of Rs 1,33,110 crore and AGR liability of Rs 70,320 crore.

On debt fund raising, the company said that it is in discussions with consortium of banks to raise upto Rs 25,000 crore and additional non-fund based facilities of upto Rs 10,000 crore. Post the telecom reforms package in September 2021, the company’s bank exposure has reduced by approximately Rs 34,600 crore.

Explaining its capex plans, the telco stated that the above equity funding, debt funding including non-fund based facilities are to be utilised primarily towards capex which is expected to be in range of Rs 50,000 to 55,000 crore over next 3 years. The capex will be towards expanding 4G population coverage in 17 priority circles, 5G launch in key cities / geographies and capacity expansion to address the increasing data demand, it added.

Akshaya Moondra, CEO of Vodafone Idea said “We are pleased to report annual revenue and EBITDA (preIndAS) growth for the second consecutive year on the back of consistently improving performance for last several quarters despite significantly lower investments; a clear reflection of our execution capabilities. We registered growth in ARPU and 4G subscribers for 11 successive quarters. Our equity fund raise around Rs 215 billion will enable us to kickstart the investment cycle to expand our 4G coverage as well as launch of 5G services to effectively participate in the industry growth opportunities. We are engaged with our lenders for tying up debt funding towards the execution of our overall network expansion plan.”

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.

The scrip advanced 1.67% to currently trade at Rs 13.37 on the BSE.