NEW DELHI: Vodafone Idea on Wednesday reported marginal narrowing of its consolidated loss to Rs 7,297 crore for the June quarter compared to Rs 7,319 crore year-ago period, as tariff hikes boosted its realisations.
Vodafone Idea’s revenue from operations grew to about Rs 10,410 crore in the June quarter, improving nearly 14% from the year-ago period.
Its average revenue per user (Arpu) — a key monitorable for telecom players — stood at Rs 128 per subscriber for the quarter compared to Rs 104 in the previous year. This represented an improvement of 23. 4% year-on-year, helped by tariff hikes.
Vodafone Idea CEO Ravinder Takkar said, “We continue to witness 4G subscriber growth on the back of superior data and voice experience. ” He added that the company has acquired sufficient spectrum in key markets to offer superior 5G experience to customers. “We also completed the first tranche of fundraising in the form of preferential equity contribution of Rs 4,940 crore from our promoters,” Takkar said.
The company continues to remain engaged with lenders and investors for further fundraising. Its revenue growth at 13. 7% was the “highest since merger” in 2018.
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