Telecom firm Vodafone Idea on Wednesday reported its net loss marginally narrowed to Rs 7,297 crore for the quarter ended June 30, 2022. It reported net loss of Rs 7,319 crore in the preceding quarter.
The company’s revenue from operations rose 14% to Rs 10,410 crore as against Rs 9,152 crore in Q1FY22.
ARPU for the quarter stood at Rs 128 versus Rs 104 in Q1FY22, up 23.4% YoY aided by tariff hikes
Ravinder Takkar, MD & CEO, Vodafone Idea Limited, said “We are pleased to announce fourth consecutive quarter
of revenue growth. We continue to witness 4G subscriber growth on the back of superior data and voice experience offered by Vi GIGAnet as well as due to our focus on creating differentiated digital experience for our customers. In the recently concluded spectrum auction, we have acquired sufficient spectrum in our key markets to offer superior 5G experience to our customers. We also completed the first tranche of fund raising in the form of preferential equity contribution of Rs 4,940 crore from our promoters, including the incremental infusion of Rs 4,400 crore by Vodafone Group in July 2022. We continue to remain engaged with lenders and investors for further fund raising.”