Fri. Mar 29th, 2024
vodafone idea ltd

Mumbai headquartered telecom operator Vodafone Idea on Tuesday announced its fourth quarter, which ended on March 31, 2022, earnings reports. Its consolidated losses narrowed to Rs 6,563.1 crore in the quarter ended compared to 7022.8 crore reported in the same period of the previous year.

Besides, the realization of Average Revenue per user or ARPU improved on a sequential basis, from INR 115 in Q3FY22 to INR 124 in Q4FY22, up 7.5 percent. On a Year-over-Year basis, it grew significantly from INR 107.

The subscriber base in the fourth quarter dipped to 243.8 million as against 247.2 million in Q3FY22, as there was a tariff hike.

However, the 4G subscriber base expanded with 1.0 million customers in Q4, with the 4G base now standing at 118.1 million.

Subscriber churn was flat, sequentially, at 3.4%. “We continue to see the increase in the data usage per 4G customer which now stands at ~13.9 GB/month vs ~12.9 GB/month a year ago. The total data traffic thus witnessed a healthy growth of 7.9% YoY,” said the company in a statement.

The telecom operation saw its revenue from operations increase 6.6 percent year-on-year to Rs 10,239.5 crore in the quarter under review.
Sequentially, the revenue rose 5.4 percent, backed by tariff hikes, effective from November 25, 2021, the company said in a statement.

For the fiscal year 2022, the losses narrowed to Rs 28,245.4 crore, from Rs 44,233.1 crore in the previous financial year.
Revenue from operations for fiscal 2022 came in at Rs 38,515.5 crore. Ravinder Takkar, MD and CEO of Vodafone Idea, said, “We are pleased to announce the third consecutive quarter of revenue growth driven by tariff interventions taken in November 2021.”

He added: “We successfully completed the first tranche of fundraising in the form of preferential equity contribution of Rs 45 billion from our promoters”.

The company continues to actively engage with lenders and investors for further fundraising, he added.

By Harshita Sharma

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