Revenue from operations increased by 0.57% to Rs 10,716.3 crore in Q2 FY24 as compared with Rs 10,655.5 crore posted in Q1 FY24, aided by better subscriber mix and 4G subscriber additions.

On a reported basis, EBITDA for the quarter grew by 3.0% from Rs 4,160 crore in Q1FY24 to Rs 4,280 crore and EBITDA margins were at 40%. EBITDA excluding IndAS116 impact grew by 2.3% and was at Rs 2,060 crore compared to Rs 2,020 crore in Q1FY24.

Capex spend for the quarter stood at Rs 520 crore.

The total gross debt (excluding lease liabilities and including interest accrued but not due) as of September 30, 2023 stood at Rs 2,12,780 crore comprising of deferred spectrum payment obligations of Rs 1,35,130 crore and AGR liability of Rs 68,180 crore that are due to the Government, debt from banks and financial institutions of Rs 7,860 crore and Optionally Convertible Debentures amounting to Rs 1,610 billion.

The net debt stood at Rs 2,12,660 crore.

The 4G subscriber base continued to grow for the ninth successive quarter and stood at 124.7 million as on September 30, 2023 vs 122.9 million in Q1FY24, an addition of 1.8 million 4G subscribers. With improving operations, we have seen lowest quarterly subscriber decline of 1.6 million since merger. The overall subscriber base stood at 219.8 million. ARPU improved to Rs. 142, up 2.1% QoQ vs Rs. 139 in Q1FY24 primarily aided by migration of subscribers to higher ARPU plans. We continue to see high data usage per broadband customer at approximately 15.8 GB per month with the total data traffic for the quarter witnessing QoQ growth of 2%.

Akshaya Moondra, CEO, Vodafone Idea, said “We are pleased to report another quarter of consecutive revenue growth, improvement in ARPU and 4G subscriber additions. We have also revamped our customer offerings over last few quarters to make our offerings more relevant to the customers with the changing customer needs and evolving industry landscape. We remain focused on our execution to effectively compete in the market. We remain engaged with our lenders for further debt fund raising as well as with other parties for equity and equity linked fund raising, to make required investments for network expansion, including 5G rollout.”

Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is amongst India's leading telecom service provider. The company provides pan India voice and data services across 2G, 3G and 4G platforms. The company holds large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave 5G spectrum in 16 circles.

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