Vodafone Idea narrows losses in Q4FY23, records first annual revenue growth since merger in 2018 - Qoneqt
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    Vikshita Vitthal Gujaran in News

    26-May-2023 10:20 AM


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    Vodafone Idea narrows losses in Q4FY23, records first annual revenue growth since merger in 2018

    Vodafone Idea narrowed losses to ₹6418 crore for the quarter ended March 2023, versus ₹6563 crore in the same quarter last year and compared to ₹7990 crore in the previous quarter. The loss-making carrier said that it was in talks with lenders for additional debt funding and with external investors for equity or equity linked fund raising.

    The No 3 carrier improved quarterly revenues and recorded growth in annual revenues for the first time since merger of Vodafone and Idea Cellular in 2018, it said in a statement. Annual revenue was up 9.5% to ₹42180 crore from ₹38520 crore in FY22, on the back of tariff hikes, improving subscriber mix and 4G subscriber additions of 4.6 million during the year.

    For the quarter, 4G subscriber base increased marginally to 122.6 million compared to 121.6 million in Q3FY23. Revenue for the quarter at ₹10,531 crore was up on-year from ₹10239 crore, but down sequentially from ₹10620 crore.

    Average revenue per user, a key metric of profitability, was up 9.3% to to Rs. 135 versus Rs. 124 in Q4FY22 primarily aided by migration of subscribers to higher ARPU plans.

    Source- https://www.livemint.com/companies/news/vodafone-idea-narrows-losses-in-q4fy23-records-first-annual-revenue-growth-since-merger-in-2018-11685054596771.html