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Vodafone Concept Q3 Loss Widens to Rs. 7,990 Crore

Debt-ridden telecom operator Vodafone Concept on Tuesday reported widening of its consolidated loss to Rs. 7,990 crore for the third quarter ended December 31, 2022. The corporate had registered a lack of Rs. 7,234.1 crore in the identical interval a yr in the past.

The consolidated income from operations of Vodafone Concept (VIL), nonetheless, elevated by 9.29 % to Rs. 10,620.6 crore from Rs. 9,717.3 crore within the December 2021 quarter.

“On a YoY foundation, income progress is powerful at 9.3 % aided by enchancment in subscriber combine, tariff intervention and 4G subscriber additions,” the corporate mentioned in an announcement.

The federal government in the course of the quarter transformed Rs. 16,133 crore curiosity associated to deferment of spectrum public sale instalments and AGR dues into fairness, and now holds round 33 % stake within the firm.

“Individually, our board has authorised issuance of Optionally Convertible Debentures amounting to Rs 16 billion to ATC India. With these optimistic developments, we proceed to stay engaged with our lenders for additional debt fund elevating in addition to with different events for fairness or fairness linked fund elevating, to make required investments for community enlargement and 5G rollout,” VIL CEO Akshaya Moondra mentioned.

VIL’s common income per consumer, a key efficiency indicator of telecom operators, improved by 17.4 % on a year-over-year foundation to Rs. 135 in the course of the December 2022 quarter from Rs. 115 a yr in the past on account of tariff hikes and migration of subscribers to limitless tariff plans.

The general subscriber base of the corporate declined to 22.86 crore in the course of the reported quarter from 23.44 crore within the September 2022 quarter.

VIL mentioned that its 4G subscriber base continued to develop and with 10 lakh 4G clients added in the course of the quarter, 4G subscriber base of the corporate stood at 12.16 crore.

“We proceed to see excessive knowledge utilization per broadband buyer at about 15.1 GB monthly with the whole knowledge visitors witnessing sequential progress of 0.8 per cent.” the corporate mentioned.

The corporate made capital expenditure of Rs. 750 crore in the course of the December 2022 quarter. VIL mentioned that it has shut down round 2,800 3G websites in the course of the quarter and added about 2,000 4G websites.

“Our general broadband web site rely stood at 443,450 as of December 31, 2022,” the corporate mentioned.

The whole gross debt (excluding lease liabilities and together with curiosity accrued however not due) as of December 31, 2022 stood at Rs 2.22 lakh crore, comprising of deferred spectrum cost obligations of Rs. 1.39 lakh crore and adjusted gross income legal responsibility of Rs. 69,910 crore which can be because of the authorities, the corporate mentioned.

The debt from banks and monetary establishments stood at Rs. 13,190 crore.

The corporate additionally introduced the appointment of its Govt Vice-President for Monetary Controller and Taxation Head, Murthy G V A S because the Interim Chief Monetary Officer and Key Managerial Personnel of the corporate, with impact from February 15, 2023.

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