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Vodafone Idea posts net loss of Rs 7,022.8 crore in Q4

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Vodafone Idea on Wednesday reported narrowing of its consolidated loss to Rs 7,022.8 crore for the quarter ended March 31, 2021.

Vodafone Idea posts net loss of Rs 7,022.8 crore in Q4
Debt-ridden telecom firm Vodafone Idea Ltd (VIL) on Wednesday reported a consolidated net loss of Rs 7,022.8 crore for the quarter ended March 2021. In the corresponding quarter last year, the company posted a net loss of Rs 11,643.5 crore.
During the quarter under review, VIL posted gross revenue of Rs 9,607.6 crore, as against Rs 10,894.1 crore quarter on quarter (QoQ). For the year ended March 31, 2021, the company's loss narrowed to Rs 44,233.1 crore from Rs 73,878.1 crore in 2019-20.
Consolidated total annual income declined by about 8 percent to Rs 42,126.4 crore from Rs 45,996.8 crore a year ago. The gross debt (excluding lease liabilities) as of March 31, 2021, stood at Rs 1,80,310 crore. This comprised deferred spectrum payment obligations of Rs 96,270 crore, AGR (adjusted gross revenue) liability of Rs 60,960 crore, and debt from banks and financial institutions of Rs 23,080 crore.
The subscriber base stands at 267.8 million in Q4FY21, a QoQ decline of 2.0 million. The gross additions continued to improve this quarter as well. Subscriber churn was 3.0 percent in Q4FY21 vs 2.3 percent in Q3FY21. ARPU for Q4FY21 declined to Rs 107 compared to Rs 121 in Q3FY21, on account of the removal of IUC, adjusting for which ARPU was broadly flat this quarter.
"There exists material uncertainty relating to the Group’s ability to continue as a going concern which is dependent on its ability to raise additional funds as required, successful negotiations with lenders on continued support, refinancing of debts, monetisation of certain assets, the outcome of the modification application filed with the Hon’ble Supreme Court and clarity of the next installment amount, acceptance of its deferment request by DoT and generation of cash flow from operations that it needs to settle/renew its liabilities/guarantees as they fall due. As of date, the Group has met all its debt obligations," it said.
Ravinder Takkar, MD & CEO, Vodafone Idea Ltd, said "FY21 has been a transformational year for Vodafone Idea with several important milestones achieved including the launch of our unified brand “Vi”. In the year of the pandemic, when people and businesses were hugely dependent on telecom connectivity, we delivered superior network experience and improvement in several operating metrics supported by Vi GIGAnet, which remains the fastest 4G network in India, as per Ookla, as well as the network with highest rated voice quality as per TRAI. We enter FY22 with a renewed focus on executing our strategy to keep our customers ahead, and our cost optimization plan remains on track to deliver the targeted savings. We are in active discussion with potential investors for fundraising, to achieve our strategic intent."
The results came after the close of the market hours. Shares of Vodafone Idea ended at Rs 9.95, down Rs 0.14, or 1.39 percent on the BSE.
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