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Vodafone Idea reports Rs. 4,882 crore loss: Here are the details
Total minutes on the network declined by 1.3 percent during the quarter, due to a reduction in incoming minutes following the disconnection of ‘Incoming only' or ‘Low ARPU' customers.
India's largest telecom operator Vodafone Idea Ltd (VIL) posted a consolidated net loss of 4,881.9 crores for the fourth quarter from Rs. 5,004.60 crore loss in the previous quarter.
However, the company's revenue from operations rose to Rs.11,775 crore. The company's Average Revenue Per User (ARPU) for the just-ended quarter grew 16.3 percent sequentially to Rs 104 (against Rs 89 in Q3).
During the quarter, VIL added 5.4 million 4G customers, taking the overall 4G subscriber base to 80.7 million. The broadband subscriber base for the quarter was 110.2 million. Total data volumes grew by 9 percent to 2,947 billion MB compared to the last quarter and the average daily data volume increased by 11.4 percent (32.7 billion MB in Q4 vs 29.4 billion MB in Q3).
While total minutes on the network declined by 1.3 percent during the quarter, due to a reduction in incoming minutes following the disconnection of 'Incoming only' or 'Low ARPU' customers.
Balesh Sharma, CEO Vodafone Idea limited, said " We remain focused on fortifying our position in key profitable districts by expanding coverage and capacity of our 4G network, targeting higher share of new 4G customers by offering an enhanced network experience, whilst also improving cash flows through cost transformation. The oversubscription of our recent rights issue, the largest in India, is a clear testament to investors' support for our strategy."
Meanwhile, total operating expenses for the quarter declined sequentially due to the realization of merger synergies. Q4 underlying operating expenses of Rs. 74.8 billion (excluding license fees & spectrum usage charges and roaming & access charges) declined by Rs. 12.8 billion compared to Q1 after adjusting for certain one-offs of Rs. 2 billion, inflation-driven cost increases and incremental network rollout.
This is equivalent to an annualized synergy realization of Rs. 51 billion, 60 percent of the Rs. 84 billion synergy target. As a result of the synergy, realization EBITDA increased to Rs. 17.9 billion, a 57 percent QoQ improvement. EBITDA normalized for one-offs stands at Rs. 15.9 billion, a 39.4 percent QoQ improvement.
The telco also said network integration continues to move at a fast pace. Customers of both brands now enjoy a unified network experience across the ten service areas of West Bengal (December 2018), Andhra Pradesh, Haryana, Madhya Pradesh, Himachal Pradesh, Assam, North East, J&K (January 2019), Bihar (February 2019) and Punjab (March 2019), along with part of the Delhi circle (East NCR), following the consolidation of spectrum and the radio access network.
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