Vodafone Idea Q3 earnings disappoints
Shares of Vodafone Idea declined nearly 4% on Monday after the debt-ridden telecom operator reported its December quarter earnings below analysts’ estimates.
Vodafone Idea on Saturday reported narrowing of consolidated loss to Rs 4,532.1 crore in the third quarter ended on December 31, 2020. The company had posted a loss of Rs 6,438.8 crore in the same quarter a year ago.
The company’s revenue from operations declined by 1.7% to Rs 10,894 crore from Rs 11,089.4 crore, YoY. However, the revenue rose by 1% sequentially. The average revenue per user (ARPU) rose to Rs 121 in the December quarter from Rs 109 in the September quarter.
EBITDA in Q3FY21 was at Rs 4,286.2 crore as against Rs 3,420.5, while EBITDA margin rose to 39.3% from 30.8%, YoY.
The improved subscriber retention and operating performance, supported by Vi GIGAnet. It remain focused on executing our strategy, and cost optimization plan remains on track to deliver the targeted savings.
Vodafone Idea’s subscriber base in the December quarter declined to 269.8 million from 304 million in the same quarter last fiscal. However, its 4G subscribers rose to 109.7 million from 104.2 million, YoY.
Its broadband subscriber base also increased to 120.8 million in Q3FY21 from 12.4 million in Q3FY20.
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