On consolidated basis
Quarter ended September 2024
compared with Quarter ended September 2023.
Net sales (including other operating income) of Vodafone Idea has increased
2.01% to Rs 10932.2 crore.
Operating profit margin has jumped
from 39.97% to 41.62%, leading to 6.23% rise in operating profit to Rs 4,549.80
crore. Employee cost increased from 4.99% to 5.35%.
Other expenses fell from 55.04% to 53.03%. Selling and
administration expenses fell from 10.85% to 10.34%.
Telecommuncation charges fell from 33.32% to 31.94%.
Other income rose 769.57% to Rs 300
crore. PBIDT rose 12.33% to Rs 4849.8 crore. Provision
for interest rose 0.68% to Rs 6613.6 crore. Loan funds rose to Rs
250,166.70 crore as of 30 September 2024 from Rs 240,651.40 crore as of 30
September 2023. Inventories declined from Rs 3.30 crore as of 30
September 2023 to Rs 0.60 crore as of 30 September 2024. Sundry
debtors were higher at Rs 2,340.30 crore as of 30 September 2024 compared to Rs
2,206.40 crore as of 30 September 2023. Cash and bank balance rose
to Rs 13,806.00 crore as of 30 September 2024 from Rs 624.40 crore as of 30
September 2023. Investments rose to Rs 417.10 crore as of 30 September
2024 from Rs 4.00 crore as of 30 September 2023 .
PBDT rose 21.67% to Rs 1763.8
crore. Provision for depreciation fell 4.65% to Rs 5404
crore. Fixed assets declined from Rs 56,941.00 crore as of 30
September 2023 to Rs 51,032.80 crore as of 30 September 2024. Intangible
assets declined from Rs 109,722.50 crore to Rs 104,829.80 crore.
Loss before tax has fallen 9.49% to
Rs -7,167.80 crore. Share of profit/loss was 75% higher at Rs -0.3
crore. Provision for tax was expense of Rs 7.8 crore, compared to Rs
817.7 crore. Effective tax rate was negative 0.11% compared to
negative 10.32%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 17.88% to Rs -7,175.90 crore.
Equity capital increased from Rs
48,679.70 crore as of 30 September 2023 to Rs 69,699.80 crore as of 30
September 2024. Per share face Value remained same at Rs
10.00.
Promoters’ stake was 37.32% as of 30
September 2024 ,compared to 50.36% as of 30 September 2023 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of Vodafone Idea has increased
0.32% to Rs 21440.5 crore.
Operating profit margin has jumped
from 39.49% to 40.83%, leading to 3.73% rise in operating profit to Rs 8,754.50
crore. Employee cost increased from 4.84% to 5.28%.
Other expenses fell from 55.60% to 53.89%. Selling and
administration expenses fell from 11.50% to 10.57%.
Telecommuncation charges fell from 33.30% to 32.51%.
Other income rose 896.95% to Rs
556.3 crore. PBIDT rose 9.60% to Rs 9310.8
crore. Provision for interest fell 6.44% to Rs 12132.2
crore. Loan funds rose to Rs 250,166.70 crore as of 30 September
2024 from Rs 240,651.40 crore as of 30 September 2023. Inventories
declined from Rs 3.30 crore as of 30 September 2023 to Rs 0.60 crore as of 30
September 2024. Sundry debtors were higher at Rs 2,340.30 crore as
of 30 September 2024 compared to Rs 2,206.40 crore as of 30 September
2023. Cash and bank balance rose to Rs 13,806.00 crore as of 30 September
2024 from Rs 624.40 crore as of 30 September 2023. Investments rose
to Rs 417.10 crore as of 30 September 2024 from Rs 4.00 crore as of 30
September 2023 .
PBDT rose 36.90% to Rs 2821.4
crore. Provision for depreciation fell 4.53% to Rs 10773.1
crore. Fixed assets declined from Rs 56,941.00 crore as of 30
September 2023 to Rs 51,032.80 crore as of 30 September
2024. Intangible assets declined from Rs 109,722.50 crore to Rs
104,829.80 crore.
Loss before tax has fallen 13.72% to
Rs -13,594.50 crore. Share of profit/loss was 88.89% higher at Rs
-0.2 crore. Provision for tax was expense of Rs 13.3 crore, compared
to Rs 820.7 crore. Effective tax rate was negative 0.10% compared to
negative 5.21%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 17.91% to Rs -13,608.00 crore.
Equity capital increased from Rs
48,679.70 crore as of 30 September 2023 to Rs 69,699.80 crore as of 30
September 2024. Per share face Value remained same at Rs
10.00.
Promoters’ stake was 37.32% as of 30
September 2024 ,compared to 50.36% as of 30 September 2023 .
Full year results analysis.
Net sales (including other operating income) of Vodafone Idea has increased
1.13% to Rs 42651.7 crore.
Operating profit margin has jumped
from 39.87% to 40.15%, leading to 1.84% rise in operating profit to Rs
17,126.00 crore. Purchase of finished goods cost rose from 0.02% to
0.04%. Employee cost increased from 4.42% to 4.98%.
Other expenses fell from 55.68% to 54.83%. Selling and
administration expenses rose from 10.95% to 11.36%.
Telecommuncation charges fell from 33.14% to 32.66%.
Other income fell 63.64% to Rs 113.2
crore. PBIDT rose 0.65% to Rs 17239.2 crore. Provision
for interest rose 10.32% to Rs 25765.5 crore. Loan funds rose to Rs
243,809.00 crore as of 31 March 2024 from Rs 237,766.00 crore as of 31 March
2023. Inventories declined from Rs 16.30 crore as of 31 March 2023
to Rs 1.20 crore as of 31 March 2024. Sundry debtors were higher at
Rs 2,194.80 crore as of 31 March 2024 compared to Rs 2,164.00 crore as of 31
March 2023. Cash and bank balance declined from Rs 855.40 crore as
of 31 March 2023 to Rs 536.20 crore as of 31 March 2024. Investments
declined from Rs 5.80 crore as of 31 March 2023 to Rs 0.50 crore as of 31 March
2024.
PBDT fell 36.95% to Rs 8526.3
crore. Provision for depreciation fell 1.81% to Rs 22633.5
crore. Fixed assets declined from Rs 60,121.40 crore as of 31 March
2023 to Rs 52,814.80 crore as of 31 March 2024. Intangible assets
declined from Rs 114,010.20 crore to Rs 105,499.10 crore.
Profit before tax down 6.44% to Rs
-31,159.80 crore. Provision for tax was expense of Rs 828.6 crore,
compared to Rs 3.5 crore. Effective tax rate was negative 2.72%
compared to negative 0.01%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 6.61% to Rs -31,238.40 crore.
Equity capital increased from Rs
48,679.70 crore as of 31 March 2023 to Rs 50,119.80 crore as of 31 March
2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 48.91% as of 31
March 2024 ,compared to 50.36% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 20,826.10 crore for year ended March 2024 from Rs 18,868.70
crore for year ended March 2023. Cash flow used in acquiring fixed
assets during the year ended March 2024 stood at Rs 1,613.90 crore, compared to
Rs 3,942.20 crore during the year ended March 2023.
Others:
Customer
ARPU (ex M2M) for the quarter stood at Rs. 166 vs Rs. 154 in Q1FY25; QoQ growth
of 7.8%
Total
subscriber base stood at 205 million and 4G subscriber base at 125.9 million
Capex spend for H1FY25 was Rs. 21.3
billion and expected capex for H2FY25 is Rs. 80 billion
Concluded mega ~USD 3.6 billion deal
for supply of network equipment over a period of 3 years with Nokia, Ericsson
and Samsung; delivery and deployment commenced in October.
The debt from banks and financial
institutions reduced to Rs. 32.5 billion as on September 30, 2024.
Management Commentary:
Commenting on the
performance Akshaya Moondra, CEO, Vodafone Idea Limited, said “Post the
successful capital raise, we kickstarted our 4G expansion drive on an
accelerated trajectory. We expanded 4G data capacity by 14% and 4G population
coverage by 22 million, and consequently our 4G speeds improved by 18%. In
parallel, we worked on closure of long-term capex contracts and recently
awarded capex deals worth USD 3.6 billion to three global partners Nokia,
Ericsson and Samsung for the supply of network equipment over next 3 years. On
the debt raise, we remain engaged with our lenders for tying up debt funding
towards the execution of our network expansion with planned capex of Rs. 500 to
550 billion over next 3 years. The impact of recent tariff interventions can be
seen in improved ARPUs and revenue for the quarter, though the full impact will
be reflected over the next couple of quarters. Further tariff rationalization
is needed for the industry to fully cover its cost of capital.”
| Vodafone Idea : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 10,932.20 | 10,716.30 | 2.01 | 21,440.50 | 21,371.80 | 0.32 | 42,651.70 | 42,177.20 | 1.13 | | OPM (%) | 41.62 | 39.97 | 165 bps | 40.83 | 39.49 | 134 bps | 40.15 | 39.87 | 28 bps | | OP | 4,549.80 | 4,282.80 | 6.23 | 8,754.50 | 8,439.80 | 3.73 | 17,126.00 | 16,817.00 | 1.84 | | Other Inc. | 300.00 | 34.50 | 769.57 | 556.30 | 55.80 | 896.95 | 113.20 | 311.30 | -63.64 | | PBIDT | 4,849.80 | 4,317.30 | 12.33 | 9,310.80 | 8,495.60 | 9.60 | 17,239.20 | 17,128.30 | 0.65 | | Interest | 6,613.60 | 6,569.00 | 0.68 | 12,132.20 | 12,967.20 | -6.44 | 25,765.50 | 23,354.30 | 10.32 | | PBDT | -1,763.80 | -2,251.70 | 21.67 | -2,821.40 | -4,471.60 | 36.90 | -8,526.30 | -6,226.00 | -36.95 | | Depreciation | 5404 | 5667.3 | -4.65 | 10773.1 | 11283.8 | -4.53 | 22633.5 | 23049.7 | -1.81 | | PBT | -7,167.80 | -7,919.00 | 9.49 | -13594.5 | -15755.4 | 13.72 | -31159.8 | -29275.7 | -6.44 | | Share of Profit/(Loss) from Associates | -0.3 | -1.2 | 75.00 | -0.2 | -1.8 | 88.89 | -5.5 | 0.5 | PL | | PBT before EO | -7168.1 | -7920.2 | 9.50 | -13594.7 | -15757.2 | 13.72 | -31165.3 | -29275.2 | -6.46 | | EO Income | 0 | 0 | - | 0 | 0 | - | 755.5 | -22.4 | LP | | PBT after EO | -7168.1 | -7920.2 | 9.50 | -13594.7 | -15757.2 | 13.72 | -30409.8 | -29297.6 | -3.80 | | Taxation | 7.8 | 817.7 | -99.05 | 13.3 | 820.7 | -98.38 | 828.6 | 3.5 | 23,574.30 | | PAT | -7175.9 | -8737.9 | 17.88 | -13608 | -16577.9 | 17.91 | -31238.4 | -29301.1 | -6.61 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | -7175.9 | -8737.9 | 17.88 | -13608 | -16577.9 | 17.91 | -31238.4 | -29301.1 | -6.61 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | -7175.9 | -8737.9 | 17.88 | -13608 | -16577.9 | 17.91 | -31238.4 | -29301.1 | -6.61 | | EPS (Rs)* | -1.03 | -1.25 | 17.88 | -1.95 | -2.38 | 17.91 | -4.47 | -4.20 | -6.46 | | | * EPS is on current equity of Rs 69,699.82 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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