New Delhi, Nov 13 (UNI) Debt-ridden telecom operator Vodafone Idea Limited (VIL) has narrowed its consolidated losses to Rs 7,175 crore for the second quarter of current fiscal 2024-25 y-o-y basis as against Rs 8,737 crore in the same quarter of last financial year.
While revenue from operations registered marginal increase at Rs 10,932 crore for the quarter ended September, 2024 versus Rs 10,716 crore achieved in the same period of last fiscal that 2023-24, the company said in a regulatory filing with the stock exchanges.
Vodafone Idea has 205 million subscribers as of September 30, 2024 of which about 61 percent are 4G/5G subscribers. As the Company continues to expand its broadband coverage and capacity, this large subscriber base provides a great platform for the Company to upgrade voice only customers to users of data services and digital offerings.
The debt from banks and financial institutions reduced by Rs 45.8 billion during the last one year (was at Rs 78.3 billion in Q2FY24) and stood at Rs 32.5 billion. The cash and bank balance was Rs. 136.2 billion as of September 30, 2024.
The payment obligations to the Government stood at Rs 2,122.6 billion as of September 30, 2024 including deferred spectrum payment obligations of Rs 1,419.4 billion and AGR liability of Rs 703.2 billion, the company said.
VIL is jointly owned by the Vodafone Group and Aditya Birla Group of India. Vodafone Group is a leading European and African telecoms company. The Group provides mobile and fixed services to over 330 million customers in 15 countries (excludes Italy which is held as discontinued operation under Vodafone Group), partner with mobile networks in 45 more and have one of the world’s largest IoT platforms.
In Africa, the Group’s financial technology businesses serve almost 83 million customers across seven countries – managing more transactions than any other provider.
Aditya Birla Group is one of the largest business groups in India, as well as a leading multinational conglomerate globally.
