On consolidated basis
Quarter ended September
2022 compared with Quarter ended September 2021.
Net sales (including other operating income) of Vodafone Idea has increased
12.84% to Rs 10614.6 crore.
Operating profit margin
has declined from 41.07% to 38.60%, leading to 6.07% rise in operating profit
to Rs 4,097.50 crore. Employee cost decreased from 4.66% to 4.17%.
Other expenses rose from 54.27% to 57.21%. Selling and
administration expenses rose from 6.95% to 10.37%. Telecommuncation
charges fell from 35.25% to 34.91%.
Other income rose
229.90% to Rs 96 crore. PBIDT rose 7.75% to Rs 4193.5
crore. Provision for interest rose 19.91% to Rs 6129.1
crore. Loan funds rose to Rs 2,48,176.40 crore as of 30 September
2022 from Rs 2,07,341.80 crore as of 30 September 2021. Inventories
declined from Rs 3.20 crore as of 30 September 2021 to Rs 1.50 crore as of 30
September 2022. Sundry debtors were higher at Rs 2,653.20 crore as
of 30 September 2022 compared to Rs 2,598.20 crore as of 30 September
2021. Cash and bank balance declined from Rs 2,050.70 crore as of 30
September 2021 to Rs 827.70 crore as of 30 September
2022. Investments rose to Rs 5.60 crore as of 30 September 2022 from
Rs 4.90 crore as of 30 September 2021 .
PBDT fell 58.73% to Rs
1935.6 crore. Provision for depreciation fell 4.51% to Rs 5655.7
crore. Fixed assets increased to Rs 65,403.40 crore as of 30
September 2022 from Rs 54,898.30 crore as of 30 September
2021. Intangible assets increased from Rs 1,07,219.80 crore to Rs
1,18,001.30 crore.
Profit before tax down
6.29% to Rs -7,591.30 crore. Provision for tax was expense of Rs 4.1
crore, compared to Rs 4 crore. Effective tax rate was negative 0.05%
compared to negative 0.06%.
Minority interest was
nil in both the periods. Net profit attributable to owners of the
company decreased 6.49% to Rs -7,595.50 crore.
Equity capital increased
from Rs 28,735.40 crore as of 30 September 2021 to Rs 32,118.80 crore as of 30
September 2022. Per share face Value remained same at Rs
10.00.
Promoters’ stake was
74.99% as of 30 September 2022 ,compared to 72.05% as of 30 September 2021
.
Year-to-date (YTD)
results analysis.
Net sales (including other operating income) of Vodafone Idea has increased
13.29% to Rs 21024.7 crore.
Operating profit margin
has declined from 40.79% to 40.08%, leading to 11.30% rise in operating profit
to Rs 8,425.90 crore. Employee cost decreased from 4.43% to 4.27%.
Other expenses rose from 54.77% to 55.64%. Selling and
administration expenses rose from 6.91% to 9.93%. Telecommuncation
charges fell from 34.90% to 33.02%.
Other income rose
186.74% to Rs 179.5 crore. PBIDT rose 12.74% to Rs 8605.4
crore. Provision for interest rose 16.35% to Rs 12030
crore. Loan funds rose to Rs 2,48,176.40 crore as of 30 September
2022 from Rs 2,07,341.80 crore as of 30 September 2021. Inventories
declined from Rs 3.20 crore as of 30 September 2021 to Rs 1.50 crore as of 30
September 2022. Sundry debtors were higher at Rs 2,653.20 crore as
of 30 September 2022 compared to Rs 2,598.20 crore as of 30 September
2021. Cash and bank balance declined from Rs 2,050.70 crore as of 30
September 2021 to Rs 827.70 crore as of 30 September 2022. Investments
rose to Rs 5.60 crore as of 30 September 2022 from Rs 4.90 crore as of 30
September 2021 .
PBDT fell 26.53% to Rs
3424.6 crore. Provision for depreciation fell 3.96% to Rs 11460
crore. Fixed assets increased to Rs 65,403.40 crore as of 30
September 2022 from Rs 54,898.30 crore as of 30 September
2021. Intangible assets increased from Rs 1,07,219.80 crore to Rs
1,18,001.30 crore.
Profit before tax down
1.68% to Rs -14,884.60 crore. Share of profit/loss was 62.50% lower
at Rs 0.3 crore. Provision for tax was expense of Rs 7.9 crore,
compared to Rs 4.5 crore. Effective tax rate was negative 0.05%
compared to negative 0.03%.
Minority interest was
nil in both the periods. Net profit attributable to owners of the
company decreased 3.05% to Rs -14,892.20 crore.
Equity capital increased
from Rs 28,735.40 crore as of 30 September 2021 to Rs 32,118.80 crore as of 30
September 2022. Per share face Value remained same at Rs
10.00.
Promoters’ stake was
74.99% as of 30 September 2022 ,compared to 72.05% as of 30 September 2021
.
Cash flow from operating
activities increased to Rs 10,762.50 crore for YTD ended September 2022 from Rs
8,407.70 crore for YTD ended September 2021. Cash flow used in
acquiring fixed assets during the YTD ended September 2022 stood at Rs 2,863.10
crore, compared to Rs 3,673.00 crore during the YTD ended September
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.
Others:
ARPU for the quarter stands
at Rs. 131 vs Rs. 128 in Q1FY23 (YoY growth of 19.5%).
4G subscriber base
increased to 120.6 million (vs 119.0 million in Q1FY23), supported by superior
data experience offered by Vi GIGAnet .
Board approved issuance
of Optionally Convertible Debentures (OCDs) amounting to Rs. 16 billion to ATC
Telecom Infrastructure Private Limited (ATC India) subject to conditions
precedent .
Management Commentary:
Commenting on the
performance Akshaya Moondra, CEO, Vodafone Idea Limited, said "We are
pleased to report fifth consecutive quarter of revenue growth and 4G subscriber
addition. Such performance is primarily driven by the continued increase in 4G
subscriber base on the back of superior data and voice experience offered by Vi
GIGAnet. In the recently held IMC, we showcased a wide range of 5G offerings
for our enterprise and consumers on the Vi 5G Live network. Our board has
recently approved issuance of Optionally Convertible Debentures amounting to
Rs. 16 billion to ATC India. We continue to remain engaged with our lenders and
investors for further fund raising to make required investments for network
expansion and 5G rollout."| Vodafone Idea : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 10,614.60 | 9,406.40 | 12.84 | 21,024.70 | 18,558.70 | 13.29 | 38,515.50 | 41,952.20 | -8.19 | | OPM (%) | 38.60 | 41.07 | -246 bps | 40.08 | 40.79 | -72 bps | 41.64 | 40.39 | 124 bps | | OP | 4,097.50 | 3,862.90 | 6.07 | 8,425.90 | 7,570.60 | 11.30 | 16,036.10 | 16,945.70 | -5.37 | | Other Inc. | 96.00 | 29.10 | 229.90 | 179.50 | 62.60 | 186.74 | 129.40 | 174.20 | -25.72 | | PBIDT | 4,193.50 | 3,892.00 | 7.75 | 8,605.40 | 7,633.20 | 12.74 | 16,165.50 | 17,119.90 | -5.57 | | Interest | 6,129.10 | 5,111.40 | 19.91 | 12,030.00 | 10,339.80 | 16.35 | 20,980.80 | 17,998.10 | 16.57 | | PBDT | -1,935.60 | -1,219.40 | -58.73 | -3,424.60 | -2,706.60 | -26.53 | -4,815.30 | -878.20 | -448.31 | | Depreciation | 5655.7 | 5922.7 | -4.51 | 11460 | 11932.5 | -3.96 | 23584.3 | 23638.5 | -0.23 | | PBT | -7,591.30 | -7,142.10 | -6.29 | -14884.6 | -14639.1 | -1.68 | -28399.6 | -24516.7 | -15.84 | | Share of Profit/(Loss) from Associates | -0.1 | 0.3 | PL | 0.3 | 0.8 | -62.50 | 1.2 | 231.4 | -99.48 | | PBT before EO | -7591.4 | -7141.8 | -6.30 | -14884.3 | -14638.3 | -1.68 | -28398.4 | -24285.3 | -16.94 | | EO Income | 0 | 13.5 | - | 0 | 191.4 | - | 164.3 | -19968.1 | LP | | PBT after EO | -7591.4 | -7128.3 | -6.50 | -14884.3 | -14446.9 | -3.03 | -28234.1 | -44253.4 | 36.20 | | Taxation | 4.1 | 4 | 2.50 | 7.9 | 4.5 | 75.56 | 11.3 | -20.3 | PL | | PAT | -7595.5 | -7132.3 | -6.49 | -14892.2 | -14451.4 | -3.05 | -28245.4 | -44233.1 | 36.14 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | -7595.5 | -7132.3 | -6.49 | -14892.2 | -14451.4 | -3.05 | -28245.4 | -44233.1 | 36.14 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | -7595.5 | -7132.3 | -6.49 | -14892.2 | -14451.4 | -3.05 | -28245.4 | -44233.1 | 36.14 | | EPS (Rs)* | -2.36 | -2.22 | -6.35 | -4.64 | -4.56 | -1.73 | -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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