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Vodafone Idea narrows losses to ₹6,434 crore, revenues down, Arpu flat

Livemint

Livemint · 1y ago

Vodafone Idea narrows losses to ₹6,434 crore, revenues down, Arpu flat

Vodafone Idea reported a narrower loss of ₹6,434 crore for the quarter ending June 2024, with revenues slightly shrinking to ₹10,508 crore. The telecom carrier added 12 consecutive quarters of 4G subscribers, reaching a base of 126.7 million. Average revenue per user (Arpu) improved to ₹146, but remained flat sequentially. The company is in talks with lenders to secure debt funding of ₹35,000 crore for network expansion. It recently raised ₹24,500 crore through a follow-on public offer and equity issuance to its equipment vendors and promoter group. The company plans to expand its 4G coverage and capacity and launch 5G services.

Related News

Vodafone lenders worried about the fate of loans

Livemint

Livemint · 1m ago

Vodafone lenders worried about the fate of loans

Vodafone Idea Ltd's lenders are concerned about the telecom operator's financial stability as it seeks an additional ₹35,000 crore in loans. The apprehension stems from the possibility that the company may prioritize paying government dues over new bank loans, amid its ongoing financial struggles. The Supreme Court recently rejected the company's appeal to waive dues linked to adjusted gross revenues (AGR), intensifying the telco's burden. Since FY17, Vodafone Idea has reported consistent losses.

Vodafone Idea could launch FPO in 1-2 weeks, talking to investors for fund raise: Report

Money Control

Money Control · 1y ago

Vodafone Idea could launch FPO in 1-2 weeks, talking to investors for fund raise: Report

Telecom company Vodafone Idea is reportedly planning to raise Rs 15-20,000 crore through a follow-on public offering (FPO), according to sources. The FPO is aimed at financing the delayed rollout of 5G and strengthening its 4G services. Vodafone Idea had already obtained board approval for the fundraising in February. The company's ability to secure funding is crucial for its market position and to boost average revenue per user (ARPU). The shareholders have also approved a fund raise of Rs 20,000 crore, which could benefit telecom gear vendors Nokia and Ericsson.

Data plan tweaks signal tariff hikes: Analysts

Economic Times

Economic Times · 1d ago

Data plan tweaks signal tariff hikes: Analysts

Telecom analysts suggest recent tweaks in entry-level data plans by private telcos could indicate a forthcoming tariff hike, affecting price-sensitive customers in rural and semi-urban areas. Jio, Airtel, and Vodafone Idea have adjusted data plan prices, with potential average revenue per user (ARPU) increases projected. Economic dynamics suggest minimal impact on urban users but may accelerate the shift from prepaid to postpaid. The move aims to sustain telcos' revenues amid competitive pressures.

Vodafone Idea to contest ₹10.76 crore penalty order under CGST Act

Livemint

Livemint · 1y ago

Vodafone Idea to contest ₹10.76 crore penalty order under CGST Act

Vodafone Idea Limited plans to take legal action to reverse an order it received under the Central Goods and Services Tax Act, 2017. The telco received a penalty of ₹10.76 crore for alleged incorrect transition of CENVAT credit into the GST regime. Vodafone Idea disputes the order and is seeking rectification. In addition, the company lost 20.44 lakh wireless users in October, dragging its user base down to 22.54 crore. P Balaji, Vodafone Idea's chief regulatory and corporate affairs officer, has also resigned.

Voda Idea to seek to convert dues into equity after moratorium ends: JP Morgan

Livemint

Livemint · 1y ago

Voda Idea to seek to convert dues into equity after moratorium ends: JP Morgan

Vodafone Idea plans to ask the Indian government to convert the annual installment for spectrum payments due in FY26/FY27 into equity. The telecom company has recently raised ₹18,000 crore in a follow-on public offer and believes it will have enough cash to repay government dues starting in FY28. Vodafone Idea currently owes the government $24.5 billion for spectrum purchases and adjusted gross revenues. It proposes converting a portion of this debt into equity in order to ease its cash crunch. The government is already the largest shareholder in Vodafone Idea with a 24.27% stake, which could increase to 35% if the conversion is approved.

Vodafone Idea narrowed its net loss to Rs 6,608 crore in the June quarter

Economic Times

Economic Times · 14d ago

Vodafone Idea narrowed its net loss to Rs 6,608 crore in the June quarter

Vodafone Idea reduced its net loss to Rs 6,608 crore in the June quarter, aided by increased revenue from 4G and 5G users and reduced finance costs. The company significantly curbed subscriber losses and expanded its 4G/5G subscriber base marginally. It launched 5G services in 22 cities and plans wider coverage. Despite these efforts, Vodafone Idea remains financially constrained, seeking funding to manage its liabilities and expand its network amidst competitive challenges.

Vodafone Idea to launch Rs 18,000-20,000-crore FPO next week

Money Control

Money Control · 1y ago

Vodafone Idea to launch Rs 18,000-20,000-crore FPO next week

Vodafone Idea is looking to raise Rs 18,000-20,000 crore through a follow-on public offer (FPO) next week. The company has secured commitments from anchor investors and the government of India, its largest shareholder, is also supportive of the fundraise. Vodafone Idea has been struggling with a significant debt burden and operational losses in the highly competitive telecom sector. The proceeds from the FPO are expected to provide much-needed liquidity and support to the company.

Indus Towers expects growth as Airtel, Vodafone Idea expand: Analysts

Money Control

Money Control · 1y ago

Indus Towers expects growth as Airtel, Vodafone Idea expand: Analysts

Indus Towers anticipates high capex intensity for this year as Bharti Airtel rapidly deploys towers and Vodafone Idea expands 4G and introduces 5G. Indus expects a fair share in Vodafone Idea's expansion, despite increased competition. The tower company also expects overdue recovery of up to INR 5,400 crore from Vodafone Idea. Additionally, Vodafone Idea is expected to roll out over 60,000 tenancies, offering lucrative opportunities for the Indian tower industry. Indus Towers has been in discussions with both Vodafone Idea and Bharti Airtel for network expansion and rollout with sharing benefits.

ET Graphics: Vodafone Idea road to reconnect

Economic Times

Economic Times · 11d ago

ET Graphics: Vodafone Idea road to reconnect

Abhijit Kishore will become CEO of Vodafone Idea on August 19, succeeding Akshaya Moondra. Vodafone Idea faces significant financial challenges, threatening its operation as a going concern, despite efforts to stabilize finances and initiate 5G rollouts under Moondra. The company has continued to incur annual losses and has seen subscriber decline as it battles market competition.

Nokia, Ericsson to pick Rs 2,458 Cr stake in Vodafone Idea in lieu of dues

YourStory

YourStory · 1y ago

Nokia, Ericsson to pick Rs 2,458 Cr stake in Vodafone Idea in lieu of dues

Vodafone Idea, a debt-ridden telecom operator, has approved the allocation of shares worth INR 2,458 crore to Nokia India and Ericsson India to settle their partial dues. The allotment of shares, priced at INR 14.80 per share, represents a 35% premium compared to the company's follow-on offer price. Nokia and Ericsson will contribute up to INR 1,520 crore and INR 938 crore, respectively, pending approval by Vodafone Idea shareholders. This move will help Vodafone Idea clear a portion of its outstanding debts to the vendors.

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