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06 August 2020

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06-Aug-2020 (17:28)
Vodafone Idea Q1 loss widens to Rs 25,460 cr

Gross revenue in Q1 June 2020 stood at Rs 10,659.30 crore, down by 5.4% from Rs 11,269.90 crore in Q1 June 2019.

EBITDA rose 10.3% to Rs 4,098.4 crore in the June quarter from Rs 3,716.3 crore in the same period last year. EBITDA margin stood at 38.4% as on 30 June 2020 as against 33% as on 30 June 2019.

The teleco recorded an exceptional expense of Rs 19,923.20 crore during the first quarter. Of the total sum, Rs 19,440.50 crore is for license fees and SUC (spectrum usage charges) on AGR (adjusted gross revenues) and Rs 123 crore is for one-time spectrum charge (including interest).

Vodafone Idea reported a pre-tax loss of Rs 25,460.2 crore in Q1 FY21 as against a pre-tax loss of Rs 6,673.8 crore in Q1 FY20. The company wrote back taxes worth Rs 0.2 crore during the quarter.

Average revenue per user (ARPU) blended rose 5.6% to Rs 114 in Q1 June 2020 from Rs 108 in Q1 June 2019. Sequentially, however, ARPU declined 5.8% from Rs 121 in Q4 March 2020.

The company's total data subscribers decreased 5.3% to 13.57 crore customers in Q1 June 2020 from 14.33 crore customers in Q1 June 2019.

Gross debt (excluding lease liabilities) as of 30 June 2020 was Rs 1,18,940 crore, including deferred spectrum payment obligations due to the Government of Rs 92,270 crore.

Cash & cash equivalents, excluding margin deposits, were Rs 3450 crore and net debt stood at Rs 1,15,500 crore (as against Rs 1,12,520 crore in Q4FY20).

Ravinder Takkar, MD & CEO, Vodafone Idea, said "During the nationwide lockdown due to COVID-19 pandemic, our teams did a phenomenal job of providing seamless high quality services, keeping people and businesses connected during these unprecedented times.

Q1FY21 was a challenging quarter as availability of recharges due to store closure and ability of customers to recharge on account of economic slowdown were impacted. 4G coverage and capacity expansion remains a priority for us to further improve our customers' experience and we continue to lead the league tables on 4G data download speeds across several states, metros and large cities.

We continued to make progress on our strategy with integration largely complete, enabling us to realise cost synergies well ahead of our initial targets.We have launched a new cost optimization initiative that will drive further cost savings.

We also continue to actively engage with the government seeking a comprehensive relief package for the industry, which faces critical challenges."

Vodafone Idea operates as a telecom service provider. The company offers 2G, 3G, and 4G mobile services, as well as mobile payments, advanced enterprise offerings, and entertainment.


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