Vodafone Idea Q4 Results 2022: Vi narrows net loss to Rs 6563.10 cr; 4G subscribers grow even as overall subscriber base takes hit
Vodafone Idea Q4 Results 2022: Subscriber base declined to 243.8 million vs 247.2 million in Q3FY22, primarily due to tariff increase. However, 4G subscriber base witnessed growth as company added 1 million customers in Q4 taking 4G base at 118.1 million
Vodafone Idea Q4 Results 2022: Vodafone Idea Limited narrowed its loss to Rs 6563.10 cr for the quarter ended 31 March versus Rs 7042.30 cr it reported during the corresponding quarter in FY21. The revenues went up at Rs 10239.50 cr for the reporting quarter versus Rs 9607.60 cr posted in Q4 of FY21. While it grew 5.4 per cent sequentially and 6.6 per cent Year-on-Year (YoY) supported by tariff hikes effective from November 25, 2021, the company said in its filing to the exchanges.
However, the revenues for the financial year were down to Rs 38515.50 in cr in FY22 from Rs 41952.20 cr.
"The total gross debt (excluding lease liabilities and including interest accrued but not due) as of March 31, 2022 stands at Rs. 1,978.8 billion, comprising of deferred spectrum payment obligations of Rs. 1,138.6 billion, AGR liability of Rs. 659.5 billion that are due to the Government and debt from banks and financial institutions of Rs. 180.7 billion. Cash & cash equivalents were Rs. 14.6 billion and net debt stood at Rs. 1,964.2 billion," the exchange filing said.
Key highlights:
1) Average Daily Revenue growth of 7.7% QoQ, highest quarterly growth since merger
2) ARPU for the quarter stands at Rs. 124 vs Rs. 115 in prior quarter, a QoQ increase of 7.5%
3) EBITDA (pre IndAS116) improved to Rs. 21.2 billion, compared to Rs. 16.2 billion in Q3FY22
4) Continued network capacity expansion supported by spectrum refarming and network upgrade to 4G
5) Vi GIGAnet continued to offer superior network experience on both, data and voice, as reflected in top rankings on 4G download speeds in independent external reports and TRAI “MyCall” app data
6) Expanded digital portfolio with several new offerings across music, games, education & jobs in partnership with leading service providers to improve customer engagement
7) Preferential equity contribution of Rs. 45 billion by promoters
8) Cash & cash equivalents were Rs. 14.6 billion and net debt stood at Rs. 1,964.2 billion.
9) AGR liability of Rs. 659.5 billion that are due to the Government and debt from banks and financial institutions of Rs. 180.7 billion.
10) The subscriber base declined to 243.8 million vs 247.2 million in Q3FY22, primarily due to tariff increase. However, the 4G subscriber base continued to grow and with 1 million customers added in Q4, 4G base now stands at 118.1 million.
“We are pleased to announce third consecutive quarter of revenue growth driven by tariff interventions taken in November 2021. While the overall subscriber base has been impacted primarily on account of the tariff increase, the 4G subscriber base continued to grow on the back of superior data and voice experience offered by Vi GIGAnet," Ravinder Takkar, MD & CEO, Vodafone Idea Limited, said.
"We are in the process of creating differentiated digital experience for our customers and added several new digital offerings across various genres during the quarter. We successfully completed first tranche of fund raising in the form of preferential equity contribution of Rs. 45 billion from our promoters. We continue to actively engage with lenders and investors for further fund raising,” he added.
Vodafone Idea shares ended at Rs 8.70 on the NSE on Tuesday, and were down nearly 3 per cent from the previous closing price.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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