On October 26, 2023: Vodafone Idea Ltd. (BSE, NSE: IDEA) announced its Q2 2023-24 financial results, with yet another quarter of consecutive growth in Revenue and a healthy atmosphere of subscriber upgrades to 4G networks.
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Key Highlights Of Vodafone Idea Ltd.
Here are the main highlights of the Q2 results of Vodafone-Idea Ltd.:
- The Revenue of the company was up 0.6% on a QoQ basis, reaching ₹10,720 Cr. This result is largely due to the support of an enhanced subscriber mix and the addition of 4G subscribers.
- EBITDA (pre-Ind AS 116) for the quarter is at ₹2060 Cr.
- ARPU for the quarter was at ₹142.
- The base of 4G subscribers has touched the whopping figure of 12.47 Cr.
- There was a continuation of network expansion in Q2, supported largely by network upgrades and spectrum reframing.
- According to TRAI, Vi has been successful at making the best voice quality available for 30 months (out of 35 months) in the period November 2020-September 2023.
Additional Read: Q2 Results Dashboard
Key Takeaways – Operational Aspects
In terms of operational highlights, the company had the following key aspects of operations to report:
- The company’s focus continues to be on the improvement of 4G networks, and investments biased in the 17 priority circles of Vi.
- The company continues its expansion of high-speed broadband networks.
- The overall broadband site count was at 440,500 at the close of Q2.
- Q2 witnessed the company’s discussions with a variety of network vendors for plans for the rollout of 5G.
- The company launched a new brand campaign, “Be Someone’s We”, meant to fulfil the company’s mission of partnering with its customers, with an underlying message to address emotional problems like a lack of emotional connectivity.
Narrative of the Management
The CEO of Vodafone-Idea Ltd., Akshaya Moondra, has a take on the results, and this is reflected below:
- Q2 has been another consecutive quarter representing Revenue growth.
- There is also a significant improvement in ARPU and additions of 4G subscribers to the Vodafone-Idea family.
- Q2 has witnessed a revamping of customer offerings, making them in accordance with evolving customer requirements and the changing landscape of the overall industry.
- The engagement with lenders continues for the further raising of debt funds, along with the involvement of other parties for investment purposes related to network expansion, and the rollout of 5G.
Also Read: Vodafone Idea Share Price
Financial Results Of Vodafone Idea Ltd.
The table below shows the financial results (Profit and Loss Account) of Q2 (in ₹ crore unless indicated by %):
| Metrics | Q2 FY2023-24 | Q2 FY2022-23 |
| Gross Revenue | 10,716.3 | 10,614.6 |
| EBITDA | 4,282.8 | 4,097.5 |
| EBITDA Margin | 40.0% | 38.6% |
| PAT | (8,737.9) | (7,595.5) |
| Total Comprehensive Income | (8,746.6) | (7,592.5 |
About Vodafone Idea Ltd.
VI or Vodafone Idea Limited is an Aditya Birla Group (Idea Cellular) and Vodafone partnership. The stylised logo of the company is V! And is famous now. The company has the distinction of being one of India’s top telecom service providers. Headquartered in Gandhinagar and Mumbai, Vodafone Idea provides pan-India Voice and Data services spread over 2G, 3G, VoLTE, LTE Advanced, 4G, and 5G platforms. The company has a wide spectrum portfolio to boost the building demand for data and voice, and the company is known to deliver superior customer experiences in this respect while contributing to the creation of a veritable “Digital India” in which millions are able to connect. Presently, the company is on the path to building infrastructure to launch newer and more intelligent technologies, making both enterprise and retail customers future-ready with creative offerings, easily accessible via an ecosystem of digital channels plus an extensive on-ground footprint. The company is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in India.
Source:
https://www.myvi.in/investors/results
