Vodafone Idea suffered more pain its fiscal Q3 2022 (calendar Q4 2021) as its losses increased and revenue tumbled due to continued declines in ARPU and subscribers.

Net loss grew 60 per cent year-on-year to INR72.3 billion ($968.5 million), with revenue declining 10.7 per cent to INR97.2 billion.

In an earnings release, MD and CEO Ravinder Takkar stated Vodafone Idea remains focused on executing a strategy to “improve our competitive position and win in the marketplace”.

The operator claimed it achieved 90 per cent of intended savings in operating expenses on a run rate basis, with an annual target of INR40 billion. “With this, we have achieved the desired cost optimisation in line with our operating model,” Takkar noted.

ARPU dropped 5 per cent to INR115 and total subscribers fell 8.4 per cent to 247.2 million. Its LTE user base rose to 117 million from 110 million.

Average 4G data usage increased 12.2 per cent to 14GB.

Capex was down 8.3 per cent to INR10.5 billion.

Vodafone Idea added around 4,400 towers in the 12 months to end-December, taking its total to 184,579. It increased 3G and 4G base stations by nearly 2,400 sites to 450,330.

The operator explained its total gross debt, covering deferred spectrum obligations, adjusted gross revenue liabilities and bank loans, totalled INR2 trillion.