Vi's Q2 net loss widens to Rs 8,738 crore
Vodafone Idea's net loss for the fiscal second quarter widened sequentially to ₹8,737.9 crore from ₹7840 crore, as the cash-strapped telco provisioned for higher taxes following a recent top court ruling, and interest costs continued to weigh.
Vodafone Idea, a joint venture between UK's Vodafone Group Plc and India's Aditya Birla Group (ABG), saw average revenue per user (ARPU), a key performance metric, rise over 2% on-quarter to ₹142, as it added more 4G users. But the telco kept losing subscribers overall to end the period with 219.8 million.
In a statement, the telco said, «With improving operations, we have seen the lowest quarterly subscriber decline of 1.6 million since merger.»
Quarterly revenue was flat sequentially at ₹10,716.3 crore as compared with ₹10, 655.5 crore in the April-June quarter.
«We are pleased to report another quarter of consecutive revenue growth, improvement in ARPU and 4G subscriber additions.
We have also revamped our customer offerings over last few quarters to make our offerings more relevant to the customers with the changing customer needs and evolving industry landscape,» Vi's chief executive Akshaya Moondra, said in a statement Thursday.
The total 4G subscribers rose to 124.7 million from 122.9 million in the previous quarter. But subscriber churn rose sequentially, to 4.1%.
«We remain focused on our execution to effectively compete in the market.
