Vodafone Idea Q2 net loss widens to `8,738 cr

New Delhi: Debt-ridden telecom operator Vodafone Idea on Thursday said its consolidated net loss widened to Rs 8,737.9 crore in the second quarter ended September 30.

The company had posted a net loss of Rs 7,595.5 crore a year ago.

Vodafone Idea (VIL) has made a provisioning of Rs 822 crore for tax liability arising out of a Supreme Court judgement on October 16 to treat revenue share license fee as capital expense.

VIL has incurred a loss of Rs 16,566.7 crore for the six months ended September 30, 2023. Its net worth at the end of the reported quarter stands at negative Rs 90,411.1 crore.

“The net working capital (excluding short-term borrowings, future lease liability and certain accruals toward pending litigations) stands at negative Rs 17,538.6 crore,” VIL said in the filing.

Its consolidated revenue from operations was almost flat at Rs 10,716.3 crore during the reported quarter against Rs 10,655.5 crore in the September 2022 quarter.

The average revenue per user (ARPU), a key growth matrix of telecom operators, grew 2.1 per cent to 142 in the September 2023 quarter from Rs 139 in the previous quarter. “We are pleased to report another quarter of consecutive revenue growth, improvement in ARPU and 4G subscriber additions,” VIL CEO Akshaya Moondra said in a statement.