Conference Call with Vodafone Idea Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Telecom Services company Vodafone Idea announced Q4FY23 & FY23 results: Q4FY23: Average Daily Revenue up 1.4% QoQ with revenue at Rs 105.3 billion 4G subscriber base increased to 122.6 million vs 121.6 million in Q3FY23 EBITDA (pre IndAS116) improved to Rs 20.7 billion, compared to Rs 20 billion in Q3FY23 Continued network capacity expansion supported by spectrum refarming and network upgrade Vi continued to offer the best voice quality as per TRAI “MyCall” App data for 25 out of 29 months between November 2020 and March 2023 FY23: Annual revenue improved by 9.5% from Rs 385.2 billion in FY22 to Rs 421.8 billion for the first time since the merger; supported by tariff hikes, improving subscriber mix, and 4G subscriber additions Annual EBITDA (pre-IndAS116) increased from Rs 66.8 billion to Rs 83 billion registering strong growth of 24.1%; EBITDA margin (pre-IndAS116) at 19.7%, highest post-merger Addition of 4.6 million 4G subscribers Akshaya Moondra, CEO, Vodafone Idea, said, “We are pleased to report annual revenue growth for the first time post–merger on the back of consistently improving performance for the last several quarters. Our annual revenue and EBITDA grew by 9.5% and 24.1% respectively compared to last financial year. We continue to see growth in ARPU and 4G subscribers. During the quarter, we issued equity shares to the Government of India, against the loan representing the NPV of interest related to deferment of spectrum and AGR. We continue to 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.” Result PDF