Telecom company Vi (formerly known as Vodafone Idea) reported a consolidated net loss of Rs 7,596 crore for the September quarter (Q2FY23) of the current fiscal as compared to the loss of Rs 7,297 crore registered in the June quarter.
The company's consolidated revenue from operations grew 2 percent to Rs 10,614 crore from Rs 10,410 crore in June quarter. EBITDA came in at Rs 4,097 crore against Rs 4,328 crore in the previous quarter.
The average revenue per user (ARPU) for the quarter under review stood at Rs 131 versus Rs 128 in Q1FY23, aided by tariff hikes and migration of subscribers to unlimited plans.
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 investments for network expansion and 5G rollout.”
The total gross debt stood at Rs 2.2 lakh crore, comprising of deferred spectrum payment obligations of Rs 1.36 lakh crore (including Rs. 17,160 crore towards spectrum acquired in recent spectrum auction) and AGR liability of Rs 68,590 crore that are due to the Government, and debt from banks and financial institutions of Rs 15,080 crore. Cash & cash equivalents were Rs 190 crore with that net debt stood at Rs. 22,0130 crore, the telecom company stated.
During Q2FY23, the firm's subscriber base declined to 234.4 million versus 240.4 million in Q1FY23.
"However, the 4G subscriber base continued to grow and with 1.5 million customers added in Q2, 4G base now stands at 120.6 million, the company said in a filing with stock exchanges.
Capital expenditure in the quarter rose to Rs 1,200 crore from Rs 840 crore in Q1.