Vodafone Idea Q4 losses narrow to Rs 6,563 cr

Telecom operator Vodafone Idea on Tuesday reported a narrowing of its consolidated losses to Rs 6,563.1 crore for the fourth quarter ended March compared to the same period of the previous year, while its realisation per user or ARPU improved sharply on a sequential basis.

The losses were at Rs 7,022.8 crore in the year-ago period, according to a company filing.

Its revenue from operations rose 6.6 per cent year-on-year to Rs 10,239.5 crore in Q4 FY22.

Seen sequentially, the revenue was up 5.4 per cent, supported by tariff hikes effective November 25, 2021, the company said in a statement.

The realisation per user measured in terms of ARPU came in at Rs 124, rising from Rs 115 in the prior quarter. This resulted in a sequential increase of 7.5 per cent in Average Revenue Per User (ARPU).

For the full year FY22, the losses narrowed sharply to Rs 28,245.4 crore, from Rs 44,233.1 crore in the previous financial year.

Revenue from operations for the year ended March 2022 came in at Rs 38,515.5 crore.

Ravinder Takkar, MD and CEO of Vodafone Idea, said, "We are pleased to announce the third consecutive quarter of revenue growth driven by tariff interventions taken in November 2021."

Takkar added: "We successfully completed the first tranche of fundraising in the form of preferential equity contribution of Rs 45 billion from our promoters".

The company continues to actively engage with lenders and investors for further fundraising, he added.