Vodafone Idea Q2 results: Net loss widens to Rs 8,738 cr; ARPU rises to Rs 142

Telecom firm Vodafone Idea Ltd on Thursday reported that its net loss widened to Rs 8,738 crore for the quarter ending September 30, 2023 as against Rs 7,596-crore net loss in the year-ago period. 

The telco said its average revenue per user (ARPU) rose to Rs 142 in Q2FY24 as against Rs 139 in Q1FY24 and Rs 131 in Q2FY23. Its revenue was flat at Rs 10,716 crore in Q2FY24 as compared to Rs 10,615 crore in the year-ago period. 

"The 4G subscriber base continued to grow for the ninth successive quarter and stood at 124.7 million as on September 30, 2023 vs 122.9 million in Q1FY24, an addition of 1.8 million 4G subscribers. With improving operations, we have seen lowest quarterly subscriber decline of 1.6 million since merger. The overall subscriber base stood at 219.8 million. ARPU improved to Rs 142, up 2.1% QoQ vs Rs 139 in Q1FY24 primarily aided by migration of subscribers to higher ARPU plans. We continue to see high data usage per broadband customer at 15.8 GB/month with the total data traffic for the quarter witnessing QoQ growth of 2%," said Vodafone Idea in a stock exchange filing. 

On Thursday, Vodafone Idea's scrip on BSE closed 1.2% lower at Rs 10.73.

The net debt stood at Rs 2.12 lakh crore in Q2FY24, said the telco. "The debt from banks and financial institution has reduced by Rs 7,220 crore during the last one year," it said.