On consolidated basis
Quarter ended June 2023 compared
with Quarter ended June 2022.
Net sales (including other operating income) of Vodafone Idea has increased
2.36% to Rs 10655.5 crore.
Operating profit margin has declined
from 41.58% to 39.01%, leading to 3.96% decline in operating profit to Rs
4,157.00 crore. Purchase of finished goods cost rose from 0.01% to
0.12%. Employee cost increased from 4.37% to 4.70%.
Other expenses rose from 54.04% to 56.17%. Selling and
administration expenses rose from 9.47% to 12.14%. Telecommuncation
charges rose from 31.09% to 33.28%.
Other income fell 74.49% to Rs 21.3
crore. PBIDT fell 5.29% to Rs 4178.3 crore. Provision for
interest rose 8.43% to Rs 6398.2 crore.
PBDT fell 49.09% to Rs 2219.9
crore. Provision for depreciation fell 3.24% to Rs 5616.5
crore.
Profit before tax down 7.45% to Rs
-7,836.40 crore. Provision for tax was expense of Rs 3 crore,
compared to Rs 3.8 crore. Effective tax rate was negative 0.04%
compared to negative 0.05%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 7.45% to Rs -7,840.00 crore.
Promoters’ stake was 50.36% as of 30
June 2023 ,compared to 74.99% as of 30 June 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
improved to Rs. 139, up 2.9% QoQ vs Rs. 135 in Q4FY23.
4G
subscriber base increased to 122.9 million vs 122.6 million in Q4FY23.
Launched ‘Vi One’, a converged
offering bundling mobility, fiber and over-the-top (OTT) subscriptions under a single
plan; an industry first for prepaid market.
Management Commentary:
Commenting on the
performance Akshaya Moondra, CEO, Vodafone Idea Limited, said “The eighth
consecutive quarter of growth in average daily revenue, ARPU and 4G
subscribers, clearly reflects our ability to effectively operate and compete in
the market. Recently, we launched ‘Vi One’, a converged offering bundling
mobility, broadband & content under a single plan bringing convenience and
value to the consumers; an industry first in prepaid space. We remain engaged
with our lenders for further debt fund raising as well as with other parties
for equity or equity linked fund raising, to make required investments for
network expansion, including 5G rollout.”
| Vodafone Idea : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 10,655.50 | 10,410.10 | 2.36 | 42,177.20 | 38,515.50 | 9.51 | | OPM (%) | 39.01 | 41.58 | -257 bps | 39.87 | 41.64 | -176 bps | | OP | 4,157.00 | 4,328.40 | -3.96 | 16,817.00 | 16,036.10 | 4.87 | | Other Inc. | 21.30 | 83.50 | -74.49 | 311.30 | 129.40 | 140.57 | | PBIDT | 4,178.30 | 4,411.90 | -5.29 | 17,128.30 | 16,165.50 | 5.96 | | Interest | 6,398.20 | 5,900.90 | 8.43 | 23,354.30 | 20,980.80 | 11.31 | | PBDT | -2,219.90 | -1,489.00 | -49.09 | -6,226.00 | -4,815.30 | -29.30 | | Depreciation | 5616.5 | 5804.3 | -3.24 | 23049.7 | 23584.3 | -2.27 | | PBT | -7,836.40 | -7,293.30 | -7.45 | -29275.7 | -28399.6 | -3.08 | | Share of Profit/(Loss) from Associates | -0.6 | 0.4 | PL | 0.5 | 1.2 | -58.33 | | PBT before EO | -7837 | -7292.9 | -7.46 | -29275.2 | -28398.4 | -3.09 | | EO Income | 0 | 0 | - | -22.4 | 164.3 | PL | | PBT after EO | -7837 | -7292.9 | -7.46 | -29297.6 | -28234.1 | -3.77 | | Taxation | 3 | 3.8 | -21.05 | 3.5 | 11.3 | -69.03 | | PAT | -7840 | -7296.7 | -7.45 | -29301.1 | -28245.4 | -3.74 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | -7840 | -7296.7 | -7.45 | -29301.1 | -28245.4 | -3.74 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | -7840 | -7296.7 | -7.45 | -29301.1 | -28245.4 | -3.74 | | EPS (Rs)* | -1.61 | -1.50 | -7.45 | -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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