On consolidated basis
Quarter ended March 2022 compared
with Quarter ended March 2021.
Net sales (including other operating income) of Vodafone Idea has increased
6.58% to Rs 10239.5 crore.
Operating profit margin has declined
from 45.89% to 45.40%, leading to 5.45% rise in operating profit to Rs 4,649.00
crore. Purchase of finished goods cost rose from 0.01% to 0.05%.
Other expenses rose from 49.52% to 49.95%. Selling and
administration expenses rose from 6.76% to 8.57%. Telecommuncation
charges fell from 28.98% to 28.01%.
Other income fell 19.65% to Rs 32.3
crore. PBIDT rose 5.22% to Rs 4681.3 crore. Provision for
interest rose 12.95% to Rs 5316.2 crore. Loan funds rose to Rs
2,13,761.10 crore as of 31 March 2022 from Rs 2,01,720.20 crore as of 31 March
2021. Inventories rose to Rs 2.30 crore as of 31 March 2022 from Rs
0.60 crore as of 31 March 2021. Sundry debtors were lower at Rs
2,443.90 crore as of 31 March 2022 compared to Rs 2,507.00 crore as of 31 March
2021. Cash and bank balance rose to Rs 3,496.60 crore as of 31 March
2022 from Rs 2,216.50 crore as of 31 March 2021. Investments rose to
Rs 5.30 crore as of 31 March 2022 from Rs 4.10 crore as of 31 March 2021
.
PBDT fell 146.37% to Rs 634.9
crore. Provision for depreciation rose 1.77% to Rs 5913 crore. Fixed
assets declined from Rs 58,170.00 crore as of 31 March 2021 to Rs 53,956.60
crore as of 31 March 2022. Intangible assets declined from Rs
1,09,926.30 crore to Rs 1,03,226.30 crore.
Profit before tax down 7.91% to Rs
-6,547.90 crore. Extraordinary items were increased to Rs -13.70
crore. Provision for tax was debit of Rs 1.8 crore, compared to
credit of Rs 19.5 crore. Effective tax rate was negative 0.03%
compared to 0.28%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 6.55% to Rs -6,563.10 crore.
Equity capital increased from Rs
28,735.40 crore as of 31 March 2021 to Rs 32,118.80 crore as of 31 March
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.99% as of 31
March 2022 ,compared to 72.05% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of Vodafone Idea has declined
8.19% to Rs 38515.5 crore.
Operating profit margin has jumped
from 40.39% to 41.64%, leading to 5.37% decline in operating profit to Rs
16,036.10 crore. Purchase of finished goods cost rose from 0.01% to
0.02%. Employee cost decreased from 4.84% to 4.50%.
Other expenses fell from 54.76% to 53.84%. Selling and
administration expenses rose from 6.09% to 7.66%. Telecommuncation
charges fell from 35.48% to 33.06%.
Other income fell 25.72% to Rs 129.4
crore. PBIDT fell 5.57% to Rs 16165.5 crore. Provision
for interest rose 16.57% to Rs 20980.8 crore. Loan funds rose to Rs 2,13,761.10
crore as of 31 March 2022 from Rs 2,01,720.20 crore as of 31 March
2021. Inventories rose to Rs 2.30 crore as of 31 March 2022 from Rs
0.60 crore as of 31 March 2021. Sundry debtors were lower at Rs
2,443.90 crore as of 31 March 2022 compared to Rs 2,507.00 crore as of 31 March
2021. Cash and bank balance rose to Rs 3,496.60 crore as of 31 March
2022 from Rs 2,216.50 crore as of 31 March 2021. Investments rose to
Rs 5.30 crore as of 31 March 2022 from Rs 4.10 crore as of 31 March 2021
.
PBDT fell 448.31% to Rs 4815.3
crore. Provision for depreciation fell 0.23% to Rs 23584.3
crore. Fixed assets declined from Rs 58,170.00 crore as of 31 March
2021 to Rs 53,956.60 crore as of 31 March 2022. Intangible assets
declined from Rs 1,09,926.30 crore to Rs 1,03,226.30 crore.
Profit before tax down 15.84% to Rs
-28,399.60 crore. Share of profit/loss was 99.48% lower at Rs 1.2
crore. Provision for tax was debit of Rs 11.3 crore, compared to
credit of Rs 20.3 crore. Effective tax rate was negative 0.04%
compared to 0.05%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 36.14% to Rs -28,245.40 crore.
Equity capital increased from Rs
28,735.40 crore as of 31 March 2021 to Rs 32,118.80 crore as of 31 March
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.99% as of 31
March 2022 ,compared to 72.05% as of 31 March 2021 .
Cash flow from operating activities
increased to Rs 17,387.00 crore for year ended March 2022 from Rs 15,639.70
crore for year ended March 2021. Cash flow used in acquiring fixed
assets during the year ended March 2022 stood at Rs 6,008.90 crore, compared to
Rs 4,709.70 crore during the year ended March 2021.
Preferential Allotment: On March 31, 2022, the
company completed the allotment of 33.8 billion equity shares of face value of
Rs. 10/- each at an issue price of Rs. 13.30 per share (including premium of
Rs. 3.30 per share) which is at a premium compared to floor price as per SEBI
ICDR Regulations, for an aggregate consideration of Rs. 45.0 billion, to
Promoters/Promoters Group entities on a preferential basis. Vodafone Group has
contributed Rs. 33.75 billion and Aditya Birla Group has contributed Rs. 11.25
billion. As a result of this preferential allotment, the aggregate shareholding
of the Promoter Group in VIL has increased from 72.05% to 74.99%. Post interest
conversion into equity, the government shareholding is expected to be 33% (36%
prior to preferential allotment) while the Promoters will hold ~50% on combined
basis.
Management Commentary
Commenting on the performance Ravinder Takkar,M
D & CEO, Vadofone Idea Limited, said“We
are pleased to announce third consecutive quarter of revenue growth driven by
tariff interventions taken in November 2021. While the overall subscriber base
has been impacted primarily on account of the tariff increase, the 4G
subscriber base continued to grow on the back of superior data and voice
experience offered by Vi GIGAnet. We are in the process of creating
differentiated digital experience for our customers and added several new
digital offerings across various genres during the quarter. We successfully
completed first tranche of fund raising in the form of preferential equity
contribution of Rs. 45 billion from our promoters. We continue to actively
engage with lenders and investors for further fund raising.”
| Vodafone Idea : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 10,239.50 | 9,607.60 | 6.58 | 38,515.50 | 41,952.20 | -8.19 | | OPM (%) | 45.40 | 45.89 | -49 bps | 41.64 | 40.39 | 124 bps | | OP | 4,649.00 | 4,408.70 | 5.45 | 16,036.10 | 16,945.70 | -5.37 | | Other Inc. | 32.30 | 40.20 | -19.65 | 129.40 | 174.20 | -25.72 | | PBIDT | 4,681.30 | 4,448.90 | 5.22 | 16,165.50 | 17,119.90 | -5.57 | | Interest | 5,316.20 | 4,706.60 | 12.95 | 20,980.80 | 17,998.10 | 16.57 | | PBDT | -634.90 | -257.70 | -146.37 | -4,815.30 | -878.20 | -448.31 | | Depreciation | 5913 | 5810.1 | 1.77 | 23584.3 | 23638.5 | -0.23 | | PBT | -6,547.90 | -6,067.80 | -7.91 | -28399.6 | -24516.7 | -15.84 | | Share of Profit/(Loss) from Associates | 0.3 | -0.2 | LP | 1.2 | 231.4 | -99.48 | | PBT before EO | -6547.6 | -6068 | -7.90 | -28398.4 | -24285.3 | -16.94 | | EO Income | -13.7 | -974.3 | 98.59 | 164.3 | -19968.1 | LP | | PBT after EO | -6561.3 | -7042.3 | 6.83 | -28234.1 | -44253.4 | 36.20 | | Taxation | 1.8 | -19.5 | PL | 11.3 | -20.3 | PL | | PAT | -6563.1 | -7022.8 | 6.55 | -28245.4 | -44233.1 | 36.14 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | -6563.1 | -7022.8 | 6.55 | -28245.4 | -44233.1 | 36.14 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | -6563.1 | -7022.8 | 6.55 | -28245.4 | -44233.1 | 36.14 | | EPS (Rs)* | -2.04 | -1.88 | -8.25 | -8.84 | -7.55 | -17.03 | | | * EPS is on current equity of Rs 32,118.85 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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