Vodafone Idea (VIL) proclaimed its net deficit shrank to Rs 6,986 crore for the December 2023 (Q3) quarter, facilitated by Rs 755.5 crore one-time remarkable acquisition. VIL’s median income per user also enhanced. Vodafone Idea’s net shortfall settled at Rs 7,990 crore in the corresponding period the previous year.

 

VIL’s earnings from undertakings remained almost stationary at Rs 10,673.1 crore year-on-year (YoY). The revenue from operations was fixed at Rs 10,620.6 crore in the third quarter of FY23.

 

The telecommunications company articulated its ARPU stood at Rs 145 in the accounting quarter versus Rs 135 in the third quarter of FY23. This converts into a year-on-year escalation of 7.4 per cent. “ARPU progressed to Rs 145, rising 7.4 per cent on YoY grounds… predominantly supported by a modification in basic plan entry and subscriber enhancements,” the announcement conveyed.

 

The entire data transmission for the quarter witnessed YoY expansion of 4.2 per cent. The firm’s outlays in Q3FY24 were inferior on a year-on-year and sequent basis.

 

VIL has underscored enhancing subscriber composition, 4G subscriber add-ons, and variations in basic plan entries, amongst its key summations. The 4G subscriber substratum elevated to 125.6 million from 121.6 million in Q3FY23.

 

The telecommunications company’s Q3 achievements were bolstered by an extraordinary component symbolizing an acquisition of Rs 755.5 crore, “emerging from the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) adjudication and acknowledged by the telecommunications department.

 

Akshaya Moondra, CEO, Vodafone Idea, remarked, “We are gratified to report the highest EBITDA of Rs 21.4 billion in the last 11 quarters. In accordance with the progressing industry topography and changing consumer requirements, we have overhauled our offerings as well as zeroing in on our implementation to efficiently vie in the market”.

 

Consequently, the corporation has succeeded in expanding its 4G subscribers and ARPUs continuously for the previous 10 quarters. The corporation’s net value stands at an adverse Rs 97,931.9 crore, and the net operational capital (excepting short-term borrowings, future lease responsibilities, and certain accruals towards impending litigations) stands at an adverse Rs 20,643 crore.

 

As of December 2023, the aggregate debt of the conglomerate stands at Rs 2,14,964 crore. As of December 2023, an amount of Rs 2,767.6 crore has been reclassified from non-current borrowings to current maturities of long-term debt for not satisfying specific covenant clauses under the financial contracts.

 

“The Conglomerate has interchanged communications and remains to be in deliberation with the creditors for the ensuing steps/indulgences. The subsisting debt due by December 31, 2024, is Rs 5,385.4 crore,” the corporation articulated.

 

The telecommunications company articulated that as of date, the conglomerate has fulfilled all its debt responsibilities payable to its creditors/banks and financial establishments, along with applicable interest. The corporation has utilized an extended credit interval to fulfill some of its contractual responsibilities.