Vi net loss widens to INR69.9bn

1 Jul 2021

Indian mobile provider Vodafone Idea (Vi) has booked a net loss of INR69.85 billion (USD939.5 million) for the three months to end-March 2021, widening quarter-on-quarter from INR45.41 billion in the period ending 31 December 2020, but representing an improvement year-on-year from a loss of INR116.28 billion. Vi recorded total revenues of INR96.08 billion for the quarter, down 11.8% q-o-q and 18.3% y-o-y, whilst EBITDA grew to INR44.09 billion from INR42.86 billion in the preceding quarter and INR43.80 billion a year ago. Vi attributed the revenue decline in part to the abolition of the interconnection usage charge (IUC) from 1 January 2021, which it said accounted for the majority of the decline, with turnover dipping by just 3.3% when this factor is excluded.

In terms of its operational data, the cellco counted a total of 267.8 million wireless customers as at 31 March 2021, down from 269.8 million at end-December 2020 and 291.1 million at end-March 2020. In contrast, the operator has steadily grown its 4G user base, with 113.9 million 4G users on its books, up from 109.7 million three months earlier and 105.6 million in the year-ago period. Despite this, ARPU fell to INR107 for the period under review, having stayed at around INR120 for most of the preceding twelve months.

India, Vi (Vodafone Idea Limited, VIL)