Vodafone Idea net loss narrows to ₹6,438.8 crore in December quarter

NEW DELHI: Vodafone Idea Ltd narrowed its net loss to ₹6,438.8 crore in the three months to December from the ₹50,922 crore loss posted in the September quarter, having accounted for most of liabilities related to adjusted gross revenue (AGR) in the preceding quarter itself.

However, the loss was higher than analysts’ expectations of ₹4,716 crore, according to Refinitiv estimates.

The company recorded exceptional expenses of ₹52.8 crore for Agr-related dues in the December quarter. It had made provisions of ₹44,150 crore for these dues in the September quarter.

Vodafone Idea’s consolidated revenue from operations rose marginally from ₹10,844 crore in the September quarter to ₹11,089 crore in the December quarter, driven by the addition of 8.3 million 4G users in the quarter. However, the revenue in the corresponding quarter last year was higher at ₹11,764.8 crore.

The company’s average revenue per user (ARPU) inched up to ₹109 in December-end from ₹107 at the end of September. However, rival operators beat Vodafone Idea on this metric with Airtel posting an ARPU of ₹135, and Jio ₹128.4 in the December quarter.

In December, all telecom companies raised their tariffs by as much as 40%.

“The tariff increase had limited impact on this quarter’s revenue,” Vodafone Idea said on Thursday.

Vodafone Idea’s results come three weeks after the Supreme Court agreed to hear its petition to modify its 24 October order that made the company liable to pay more than ₹50,000 crore of Agr-related dues by 23 January.