In Short:
Vodafone Idea (Vi) released their Q4 FY24 results, showing a net loss of Rs 7675 crore and revenues at Rs 10,606 crore. The loss increased compared to the previous year but revenues saw a slight increase. Vi reduced churn rate, added 4G sites, and shut down 3G in 6 circles. 4G subscribers reached 126. 3 million, ARPU increased to Rs 146. Vi raised funds through FPO to expand network and launch 5G services. Despite the financial challenges, Vi remains optimistic about its future prospects. The company is focused on improving its network infrastructure and enhancing its services to meet the growing demand for high-speed connectivity. In the competitive telecom market, Vi is closely monitoring the bharti airtel 5G user growth and is preparing to roll out its own 5G services to stay ahead in the race. With strategic investments and a dedicated approach, Vi aims to regain its financial stability and regain its position in the industry.
Vodafone Idea Announces Q4 FY24 Results
Vodafone Idea (Vi) has reported its financial results for the fourth quarter of fiscal year 2024. The telco recorded a net loss of Rs 7675 crore, with revenues amounting to Rs 10,606 crore. While the loss widened compared to the same period last year, revenues saw a marginal increase.
Key Performance Indicators
During the quarter, Vi’s 4G subscriber base reached 126.3 million out of a total of 213 million wireless subscribers. The average revenue per user (ARPU) rose to Rs 146, showing a slight improvement. The company also added 917 4G sites, bringing the total broadband site count to 430,700.
Operational Highlights
Vi revealed that it has discontinued 3G services in six circles, with Kerala being the latest addition. The telco’s churn rate decreased from the previous quarter, showing positive signs for customer retention. Additionally, Vi raised Rs 18,000 crore through India’s largest Follow-on Public Offer (FPO) during the quarter.
Statements from CEO
Akshaya Moondra, CEO of Vodafone Idea, expressed satisfaction with the company’s performance despite challenges. He highlighted the growth in ARPU and 4G subscribers over multiple quarters. Moondra also mentioned plans to expand 4G coverage and launch 5G services, supported by recent equity fund raising.
