Vodafone Idea posts net loss of 7,231 crore in Q 2

In the quarter ended December 31st, 2021, Vodafone Idea reported a net loss of 7,231 crore. The telco had reported a net loss of Rs 4,532 crore in the year-ago period. The company had posted a net loss of 7,132 crore in the previous quarter of Q 2 of FY 22. The company's consolidated revenue from operations was Rs 9,717 crore compared to Rs 10,894 crore a year ago.

The telco's average revenue per user ARPU for the quarter rose 5.2% to Rs 115, compared to Rs 109 in the previous quarter.

The telco said during the quarter it saw continued network capacity expansion supported by spectrum refarming and network upgrade to 4 G.

Vi's EBITDA earnings before interest, taxes, depreciation and amortization increased to Rs 1,620 crore, compared to Rs 1.620 crore. A one-off of 150 crore was added in Q 2 FY 22 post-agreement for 1,410 crore in Q 2

Ravinder Takkar, MD CEO, Vodafone Idea Limited, said we are pleased to announce the second consecutive quarter of revenue growth because of several tariff interventions in the last few months. We are focused on executing our strategy to improve our competitive position and win in the marketplace. He added that we have opted for upfront conversion of interest arising from the deferment of spectrum and AGR dues into equity.

Shares of Vodafone Idea went up by 1.24% on Friday at Rs 11.90 apiece on BSE.