Vodafone Thought has managed to cut back its losses within the quarter ended March, regardless of dealing with muted progress in income. Vodafone Thought introduced its fourth-quarter outcomes on Thursday, revealing a narrowed consolidated web lack of Rs 6,419 crore, in comparison with Rs 6,563 crore in the identical interval final 12 months and Rs 7,988 crore within the earlier quarter.
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Whereas income from operations noticed a modest improve of almost 3% year-on-year, reaching Rs 10,532 crore, the loss for the complete fiscal 12 months FY23 widened to Rs 29,301 crore from Rs 28,245 crore within the earlier 12 months. Income from operations for the fiscal 12 months confirmed a progress of almost 10%, amounting to Rs 42,177 crore.
Improve in 4G subscribers
Vodafone Thought additionally famous a rise in its 4G subscriber base, which reached 122.6 million through the March quarter, up from 121.6 million within the earlier quarter. Moreover, the corporate reported a marginal enchancment in its working revenue, with earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) rising to Rs 4,210 crore from Rs 4,181 crore within the earlier quarter. The working margin additionally noticed a slight improve, standing at 40% in comparison with 39.4% within the earlier quarter.
Vodafone Thought attributed its continued community capability growth to spectrum refarming and community upgrades. The corporate has additionally lowered its curiosity prices, which decreased to Rs 4,908 crore from Rs 6,285 crore within the earlier quarter.
Commenting on the outcomes, Akshaya Moondra, CEO of Vodafone Thought, expressed satisfaction with the annual income progress achieved for the primary time post-merger, emphasizing the corporate’s bettering efficiency over the previous a number of quarters. Moondra additional acknowledged that Vodafone Thought stays engaged with lenders for extra debt fund elevating and is exploring choices for fairness or equity-linked fund elevating to assist community growth, together with the rollout of 5G know-how.
Vodafone Thought ARPU
The typical income per consumer (ARPU) additionally confirmed enchancment, rising to Rs 135 from Rs 124 within the earlier 12 months, primarily because of subscribers migrating to increased ARPU plans, in response to the corporate.
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Total Subscriber Base
Nevertheless, the general subscriber base declined to 225.9 million within the final quarter from 228.6 million within the December quarter. Vodafone Thought’s capital expenditure for the quarter amounted to Rs 5.6 billion, bringing the full capex spend for FY23 to Rs 33.6 billion.
The corporate’s complete gross debt, excluding lease liabilities and together with curiosity accrued however not due, stood at Rs 2.09 lakh crore as of March 31, in comparison with Rs 2.23 lakh crore as of December 31. This discount was attributed to the conversion of debt, representing the online current worth of curiosity arising from the deferment of spectrum instalments and Adjusted Gross Income (AGR) dues into fairness issued to the federal government.
The whole debt contains deferred spectrum fee obligations of Rs 1.3 lakh crore, AGR legal responsibility of Rs 655.5 billion to the federal government, debt from lenders amounting to Rs 114 billion, and optionally convertible debentures of Rs 16.1 billion. With money and money equivalents of Rs 2.3 billion, Vodafone Thought’s web debt stood at Rs 2.09 lakh crore.