On consolidated basis
Quarter ended September 2023
compared with Quarter ended September 2022.
Net sales (including other operating income) of Vodafone Idea has increased
0.96% to Rs 10716.3 crore.
Operating profit margin has jumped
from 38.60% to 39.97%, leading to 4.52% rise in operating profit to Rs 4,282.80
crore. Employee cost increased from 4.17% to 4.99%.
Other expenses fell from 57.21% to 55.04%. Selling and
administration expenses rose from 10.37% to 10.85%.
Telecommuncation charges fell from 34.91% to 33.32%.
Other income fell 64.06% to Rs 34.5
crore. PBIDT rose 2.95% to Rs 4317.3 crore. Provision for
interest rose 7.18% to Rs 6569 crore. Loan funds declined from Rs
2,48,176.40 crore as of 30 September 2022 to Rs 2,40,651.40 crore as of 30
September 2023. Inventories rose to Rs 3.30 crore as of 30 September
2023 from Rs 1.50 crore as of 30 September 2022. Sundry debtors were
lower at Rs 2,206.40 crore as of 30 September 2023 compared to Rs 2,653.20
crore as of 30 September 2022. Cash and bank balance declined from
Rs 827.70 crore as of 30 September 2022 to Rs 624.40 crore as of 30 September
2023. Investments declined from Rs 5.60 crore as of 30 September
2022 to Rs 4.00 crore as of 30 September 2023.
PBDT fell 16.33% to Rs 2251.7
crore. Provision for depreciation rose 0.21% to Rs 5667.3
crore. Fixed assets declined from Rs 65,403.40 crore as of 30
September 2022 to Rs 56,941.00 crore as of 30 September
2023. Intangible assets declined from Rs 1,18,001.30 crore to Rs
1,09,722.50 crore.
Profit before tax down 4.32% to Rs
-7,919.00 crore. Share of profit/loss was 1,100% lower at Rs -1.2
crore. Provision for tax was expense of Rs 817.7 crore, compared to
Rs 4.1 crore. Effective tax rate was negative 10.32% compared to
negative 0.05%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 15.04% to Rs -8,737.90 crore.
Equity capital increased from Rs
32,118.80 crore as of 30 September 2022 to Rs 48,679.70 crore as of 30
September 2023. Per share face Value remained same at Rs
10.00.
Promoters’ stake was 50.36% as of 30
September 2023 ,compared to 74.99% as of 30 September 2022 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of Vodafone Idea has increased
1.65% to Rs 21371.8 crore.
Operating profit margin has declined
from 40.08% to 39.49%, leading to 0.16% rise in operating profit to Rs 8,439.80
crore. Purchase of finished goods cost rose from 0.01% to 0.06%.
Employee cost increased from 4.27% to 4.84%. Other
expenses fell from 55.64% to 55.60%. Selling and administration
expenses rose from 9.93% to 11.50%. Telecommuncation charges rose
from 33.02% to 33.30%.
Other income fell 68.91% to Rs 55.8
crore. PBIDT fell 1.28% to Rs 8495.6 crore. Provision for
interest rose 7.79% to Rs 12967.2 crore. Loan funds declined from Rs
2,48,176.40 crore as of 30 September 2022 to Rs 2,40,651.40 crore as of 30
September 2023. Inventories rose to Rs 3.30 crore as of 30 September
2023 from Rs 1.50 crore as of 30 September 2022. Sundry debtors were
lower at Rs 2,206.40 crore as of 30 September 2023 compared to Rs 2,653.20
crore as of 30 September 2022. Cash and bank balance declined from
Rs 827.70 crore as of 30 September 2022 to Rs 624.40 crore as of 30 September
2023. Investments declined from Rs 5.60 crore as of 30 September
2022 to Rs 4.00 crore as of 30 September 2023.
PBDT fell 30.57% to Rs 4471.6
crore. Provision for depreciation fell 1.54% to Rs 11283.8
crore. Fixed assets declined from Rs 65,403.40 crore as of 30
September 2022 to Rs 56,941.00 crore as of 30 September
2023. Intangible assets declined from Rs 1,18,001.30 crore to Rs 1,09,722.50
crore.
Profit before tax down 5.85% to Rs
-15,755.40 crore. Provision for tax was expense of Rs 820.7 crore,
compared to Rs 7.9 crore. Effective tax rate was negative 5.21%
compared to negative 0.05%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 11.32% to Rs -16,577.90 crore.
Equity capital increased from Rs
32,118.80 crore as of 30 September 2022 to Rs 48,679.70 crore as of 30
September 2023. Per share face Value remained same at Rs
10.00.
Promoters’ stake was 50.36% as of 30
September 2023 ,compared to 74.99% as of 30 September 2022 .
Cash flow from operating activities
decreased to Rs 9,707.00 crore for YTD ended September 2023 from Rs 10,762.50
crore for YTD ended September 2022. Cash flow used in acquiring
fixed assets during the YTD ended September 2023 stood at Rs 432.90 crore,
compared to Rs 2,863.10 crore during the YTD ended September 2022.
Full year results analysis.
Net sales (including other operating income) of Vodafone Idea has increased
9.51% to Rs 42177.2 crore.
Operating profit margin has declined
from 41.64% to 39.87%, leading to 4.87% rise in operating profit to Rs
16,817.00 crore. Employee cost decreased from 4.50% to 4.42%.
Other expenses rose from 53.84% to 55.68%. Selling and
administration expenses rose from 7.66% to 10.95%. Telecommuncation
charges rose from 33.06% to 33.14%.
Other income rose 140.57% to Rs
311.3 crore. PBIDT rose 5.96% to Rs 17128.3
crore. Provision for interest rose 11.31% to Rs 23354.3
crore. Loan funds rose to Rs 2,37,766.00 crore as of 31 March 2023
from Rs 2,13,761.10 crore as of 31 March 2022. Inventories rose to
Rs 16.30 crore as of 31 March 2023 from Rs 2.30 crore as of 31 March
2022. Sundry debtors were lower at Rs 2,164.00 crore as of 31 March
2023 compared to Rs 2,443.90 crore as of 31 March 2022. Cash and
bank balance declined from Rs 3,496.60 crore as of 31 March 2022 to Rs 855.40
crore as of 31 March 2023. Investments rose to Rs 5.80 crore as of 31
March 2023 from Rs 5.30 crore as of 31 March 2022 .
PBDT fell 29.30% to Rs 6226
crore. Provision for depreciation fell 2.27% to Rs 23049.7
crore. Fixed assets increased to Rs 60,121.40 crore as of 31 March
2023 from Rs 53,956.60 crore as of 31 March 2022. Intangible assets
increased from Rs 1,03,226.30 crore to Rs 1,14,010.20 crore.
Profit before tax down 3.08% to Rs
-29,275.70 crore. Share of profit/loss was 58.33% lower at Rs 0.5
crore. Provision for tax was expense of Rs 3.5 crore, compared to Rs
11.3 crore. Effective tax rate was negative 0.01% compared to
negative 0.04%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 3.74% to Rs -29,301.10 crore.
Equity capital increased from Rs
32,118.80 crore as of 31 March 2022 to Rs 48,679.70 crore as of 31 March
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 50.36% as of 31
March 2023 ,compared to 74.99% as of 31 March 2022 .
Cash flow from operating activities
increased to Rs 18,868.70 crore for year ended March 2023 from Rs 17,387.00
crore for year ended March 2022. Cash flow used in acquiring fixed
assets during the year ended March 2023 stood at Rs 3,942.20 crore, compared to
Rs 6,008.90 crore during the year ended March 2022.
Others:
ARPU
for the quarter stood at Rs. 142 vs Rs. 139 in Q1FY24 (QoQ growth of 2.1%)
4G
subscriber base increased to 124.7 million vs 122.9 million in Q1FY2024.
Management Commentary:
Commenting on the
performance Akshaya Moondra, CEO, Vodafone Idea Limited, 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 : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 10,716.30 | 10,614.60 | 0.96 | 21,371.80 | 21,024.70 | 1.65 | 42,177.20 | 38,515.50 | 9.51 | | OPM (%) | 39.97 | 38.60 | 136 bps | 39.49 | 40.08 | -59 bps | 39.87 | 41.64 | -176 bps | | OP | 4,282.80 | 4,097.50 | 4.52 | 8,439.80 | 8,425.90 | 0.16 | 16,817.00 | 16,036.10 | 4.87 | | Other Inc. | 34.50 | 96.00 | -64.06 | 55.80 | 179.50 | -68.91 | 311.30 | 129.40 | 140.57 | | PBIDT | 4,317.30 | 4,193.50 | 2.95 | 8,495.60 | 8,605.40 | -1.28 | 17,128.30 | 16,165.50 | 5.96 | | Interest | 6,569.00 | 6,129.10 | 7.18 | 12,967.20 | 12,030.00 | 7.79 | 23,354.30 | 20,980.80 | 11.31 | | PBDT | -2,251.70 | -1,935.60 | -16.33 | -4,471.60 | -3,424.60 | -30.57 | -6,226.00 | -4,815.30 | -29.30 | | Depreciation | 5667.3 | 5655.7 | 0.21 | 11283.8 | 11460 | -1.54 | 23049.7 | 23584.3 | -2.27 | | PBT | -7,919.00 | -7,591.30 | -4.32 | -15755.4 | -14884.6 | -5.85 | -29275.7 | -28399.6 | -3.08 | | Share of Profit/(Loss) from Associates | -1.2 | -0.1 | -1,100.00 | -1.8 | 0.3 | PL | 0.5 | 1.2 | -58.33 | | PBT before EO | -7920.2 | -7591.4 | -4.33 | -15757.2 | -14884.3 | -5.86 | -29275.2 | -28398.4 | -3.09 | | EO Income | 0 | 0 | - | 0 | 0 | - | -22.4 | 164.3 | PL | | PBT after EO | -7920.2 | -7591.4 | -4.33 | -15757.2 | -14884.3 | -5.86 | -29297.6 | -28234.1 | -3.77 | | Taxation | 817.7 | 4.1 | 19,843.90 | 820.7 | 7.9 | 10,288.60 | 3.5 | 11.3 | -69.03 | | PAT | -8737.9 | -7595.5 | -15.04 | -16577.9 | -14892.2 | -11.32 | -29301.1 | -28245.4 | -3.74 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | -8737.9 | -7595.5 | -15.04 | -16577.9 | -14892.2 | -11.32 | -29301.1 | -28245.4 | -3.74 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | -8737.9 | -7595.5 | -15.04 | -16577.9 | -14892.2 | -11.32 | -29301.1 | -28245.4 | -3.74 | | EPS (Rs)* | -1.80 | -1.56 | -15.04 | -3.41 | -3.06 | -11.32 | -6.01 | -5.83 | -3.09 | | | * EPS is on current equity of Rs 48,679.69 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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