India-based Vodafone Idea narrowed its losses marginally in its fiscal Q2 2022 (ending 30 September) due to a cut in network investment, as mobile subscribers and ARPU declined during the quarter.
Its net loss fell to INR71.4 billion ($959.9 million) from INR72.3 billion in the same period in 2020, despite total revenue dropping 12.8 per cent to INR84.1 billion. The operator continued to shed subscribers, with the total falling 18.8 million to 253 million. ARPU declined 8.4 per cent to INR109.
MD and CEO Ravinder Takkar stated the company witnessed a recovery in operating momentum as “the economy has started to gradually open up, aided by the ongoing rapid vaccination drive. We continue to improve our 4G subscriber base”.
He reiterated its support for a landmark government reform package which addresses several industry concerns and provides immediate relief to operators’ financial stress.
The measures give Vodafone Idea a four-year moratorium on adjusted gross revenue (AGR) and spectrum payments.
LTE subscribers increased 9.5 per cent to 116.2 million, with average data consumption for 4G users rising 22 per cent to 14.8GB
Capex in fiscal H1 2022 dropped 46 per cent year-on-year to INR22.4 billion. The number of broadband towers increased by about 4,400 to 167,500.Subscribe to our daily newsletter Back