Vi quarterly net loss widens to USD971m

24 Jan 2022

Indian mobile provider Vodafone Idea (Vi) has booked gross revenue of INR97.2 billion (USD1.3 billion) for the three months to end-December 2021, down from INR108.94 billion in the same period of 2020. EBITDA fell by 11.0% year-on-year to INR38.2 billion, whilst net losses widened to INR72.3 billion from INR45.4 billion over the same period. Total mobile subscriptions for the period fell to 247.2 million from 253.0 million in the preceding quarter and 269.8 million the year-ago period. 4G subscriptions, however, improved to 117.0 million from 109.7 million a year earlier.

The company noted that it is continuing to invest in the expansion and development of its 4G network, and added around 4,000 4G FDD sites during the quarter – primarily through refarming of its 2G and 3G spectrum to expand 4G coverage and capacity. Its total mobile broadband site (i.e. 3G and 4G) count fell slightly to 450,330 from 450,481 in the preceding quarter, due to the company’s ongoing phased shutdown of 3G sites. Vi went on to add that by the end of December 2021 it had deployed a total of around 67,000 TDD LTE sites, 13,850 Massive MIMO sites and 13,150 small cells.

India, Vi (Vodafone Idea Limited, VIL)