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Losses for operator Vodafone Idea widened year-on-year (y-o-y) by 19.5 per cent for the last quarter of fiscal 2024. In Q42024, Vi reported a loss of ₹7,674.6 crore versus a loss of ₹6,418.9 crore reported same time last year.
Revenues for the operations remained largely stagnant y-o-y. In Q4FY24, Vi’s revenue stood at ₹10,606.8 crore while in Q4FY23 the telco reported ₹10,531.9 crore in revenues.
Before reporting the results, Vi raised nearly ₹18,000 crore in its follow-on public offer, which was subscribed seven times. Speaking of capex plans with these funds, Vi said, “The above Equity funding, debt funding including non-fund based facilities are to be utilised primarily towards capex which is expected to be in range of ₹500 to 550 billion over next 3 years. The capex will be towards expanding 4G population coverage in 17 priority circles, 5G launch in key cities /geographies and capacity expansion to address the increasing data demand. We will continue to work towards enhancing our services to offer seamless and world-class digital experience to our consumers.”
Fundraise
Vodafone Idea is also in discussion with a consortium of banks to raise upto ₹25,000 crore and additional non-fund based facilities of up to ₹10,000 crore. The firm noted that post the Telecom reforms package in September 2021, its bank exposure has reduced by ₹34,600 crore.
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Vodafone Idea’s total subscriber base stood at 213 million, losing two million subscribers on a quarter-on-quarter basis. Vi’s average revenue per user (ARPU) was ₹146, largely stable.
Speaking on operations Vi noted, “In line with our stated strategy, our investments are focused towards our 17 priority circles to expand our high-speed broadband network coverage and capacity by rolling out new 4G sites on the existing locations, upgrading our core and transmission network as well as by refarming 2G/3G spectrum to 4G, as these 17 circles accounts for about 98% of our revenues.”
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