Telecom Services company Vodafone Idea announced Q2FY24 results: Revenue up 0.6% QoQ to Rs 107.2 billion supported by improving subscriber mix and 4G subscriber additions EBITDA (pre-Ind AS 116) for the quarter improved from Rs 20.2 billion in Q1FY24 to Rs 20.6 billion 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 Q1FY24 Continued network capacity expansion supported by spectrum refarming and network upgrade Vi offered the best voice quality as per TRAI “MyCall” App data for 30 out of 35 months between November 2020 and September 2023 Capex spend for the quarter stood at Rs 5.2 billion. The total gross debt (excluding lease liabilities and including interest accrued but not due) as of September 30, 2023 stood at Rs 2,127.8 billion comprising of deferred spectrum payment obligations of Rs 1,351.3 billion and AGR liability of Rs 681.8 billion that are due to the Government, debt from banks and financial institutions of Rs 78.6 billion and Optionally Convertible Debentures amounting to Rs 16.1 billion. The net debt stood at Rs 2,126.6 billion. The debt from banks and financial institution has reduced by Rs 72.2 billion during the last one year (was at Rs 150.8 billion in Q2FY23). Akshaya Moondra, CEO, Vodafone Idea, 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.” Result PDF