Vodafone idea narrowed its loss to ₹6,419 crore in the fourth quarter of fiscal 2023 from ₹6,563 crore a year ago.
Revenue for the quarter stood at 10,530 rupees, 2.9% higher than the same period last year. Revenue growth was supported by an improvement in the subscriber mix and 4G subscriber additions.
Akshaya Moondra, CEO, Vodafone Idea Limited, said, “We are delighted to report our first year-on-year revenue growth after the merger thanks to consistently improving performance over the past few quarters. . Our annual revenue and EBITDA increased by 9.5% and 24.1%, respectively, year over year. We continue to see growth in ARPU and 4G subscription numbers. During the quarter, we issued equity shares to the Government of India, for the loan representing the NPV of the interest rate with respect to the deferred frequency and the AGR. We continue to work with lenders to raise more debt funds as well as with others to raise equity or equity-linked capital, to make the necessary investments for the opening of the business. network expansion, including the rollout of 5G.”
Total gross debt (excluding leases and including accrued but undue interest) as of March 31, 2023 stood at ₹2,092 lakh crore compared to ₹2.22 lakh crore as of 31. December 2022 due to the conversion of the debt representing the NPV of interest accrued due to deferred spectrum installments and AGR fees into equity granted to the Government of India.