Telecom services company Vodafone Idea announced Q3FY23 results: Q3FY23: Revenue up 9.3% YoY to Rs 106.2 billion; supported by improving subscriber mix and tariff interventions ARPU for the quarter stands at Rs 135 vs Rs 131 in Q2FY23 (Rs 115 in Q3FY22; YoY growth of 17.4%) 4G subscriber base increased to 121.6 million (vs 120.6 million in Q2FY23), supported by superior data experience offered by Vi GIGAnet Continued network capacity expansion supported by spectrum refarming and network upgrade Vi continued to offer best voice quality as per TRAI “MyCall” app data for 23 out of 26 months between November 2020 and December 2022 Vi won the best social media brand in Telecom and the best use of Video for #LookUp this Diwali at the SAMMIES 2022 Board approved issuance of Optionally Convertible Debentures (OCDs) amounting to Rs 16 billion to ATC Telecom Infrastructure Private Limited (ATC India) subject to shareholders’ approval Issuance of 16.13 billion equity shares to Government of India (GoI) at Rs 10 per share, in line with GoI order to convert NPV of interest related to deferment of spectrum and AGR dues into equity. Akshaya Moondra, CEO, Vodafone Idea Limited, said “We are pleased to report a sixth consecutive quarter of revenue growth and 4G subscriber addition on the back of superior data and voice experience offered by Vi GIGAnet. We have issued equity shares to the Government of India recently, consequent to the conversion of the interest related to the deferment of spectrum and AGR dues into equity. Separately, our board has approved the issuance of Optionally Convertible Debentures amounting to Rs 16 billion to ATC India. With these positive developments, we continue to remain engaged with our lenders for further debt fundraising as well as with other parties for equity or equity-linked fundraising, to make required investments for network expansion and 5G rollout.” Result PDF