Vodafone Idea’s third-quarter financial report reveals a reduction in net loss, narrowing down to Rs 6,985 crore, accompanied by an increase in Average Revenue Per User (ARPU) to Rs 145.

On Monday, Vodafone Idea Ltd, a telecommunications company, announced a reduced net loss of Rs 6,985 crore for the quarter ending December 31, 2023, compared to a net loss of Rs 7,990 crore in the corresponding period the previous year. The company also reported a 7.5% year-on-year growth in Average Revenue Per User (ARPU), reaching Rs 145 from Rs 135 in Q3FY23.

In the December quarter, the telecommunications company experienced a rise in its 4G subscriber base, reaching 125.6 million compared to 121.6 million in Q3FY23. The EBITDA for the quarter exhibited a 6.8% year-on-year growth, increasing from Rs 2,000 crore in Q3FY23 to Rs 2,140 crore—marking the highest figure in the past 11 quarters. Additionally, the 4G subscriber base increased to 12.55 crore, up from 12.10 crore in Q3FY23.

Vodafone Idea Limited’s CEO, Akshaya Moondra, expressed satisfaction, stating, “We are delighted to announce our highest EBITDA (pre-IndAS 116) of Rs. 21.4 billion in the past 11 quarters. Adapting to the dynamic industry landscape and evolving customer preferences, we have revamped our offerings and intensified our focus on execution to effectively compete in the market. As a result, we have achieved consistent growth in our 4G subscribers and ARPUs over the last 10 quarters. We remain actively involved with various stakeholders for fundraising, intending to secure the necessary investments for network expansion, including the rollout of 5G.”

Read More: Click Here