Overview of Vodafone Idea Financial Performance in Q1 FY24 📊
If you are a cryptocurrency enthusiast looking to stay informed about the latest financial updates of Vodafone Idea, you have come to the right place. Dive into the following summary of Vodafone Idea’s financial performance in the first quarter of the fiscal year 2024. From net losses to revenue and subscriber base growth, here is everything you need to know about the telecom company’s recent financial results.
Vodafone Idea’s Consolidated Net Loss and Revenue Report 📉
– Vodafone Idea reported a consolidated net loss of Rs 7,675 crore for the quarter ended March 31, 2024.
– This figure was an increase from the Rs 6,419 crore loss reported in the same period last year.
– Revenue from operations was recorded at Rs 10,607 crore, showing a slight increase from Rs 10,532 crore in the corresponding quarter of the previous fiscal year.
– The revenue in the quarter saw a growth of 0.71% year-over-year (YoY).
Key Financial Metrics for Q1 FY24 📈
– The average revenue per user (ARPU) for the quarter was Rs 146, up from Rs 135 in Q4FY23, displaying a YoY growth of 7.6%.
– The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter stood at Rs 4,336 crore, an increase from Rs 4,210.30 crore in the year-ago period.
– Vodafone Idea reported its highest post-merger quarterly EBITDA of Rs 2,180 crore, reflecting a YoY growth of 5.4%.
Subscriber Base and Annual Financial Performance 📱
– The 4G subscriber base of Vodafone Idea grew to 12.63 crore compared to 12.26 crore in Q4FY23.
– Annual revenue for FY24 reached Rs 42,650 crore, up from Rs 42,180 crore in FY23, representing an annual growth of 1.1%.
– Annual EBITDA (pre IndAS116) was reported at Rs 8,400 crore, an increase from Rs 8,300 crore in the previous fiscal year.
– EBITDA margin (pre IndAS116) stood at 19.7%.
CEO Insights on Financial Performance 🌟
– CEO Akshaya Moondra mentioned that the company witnessed growth in annual revenue and EBITDA for the second consecutive year, with improvements in performance over several quarters.
– He highlighted the growth in ARPU and 4G subscribers for 11 successive quarters, showcasing Vodafone Idea’s consistent progress.
Debt, Cash, and Payment Obligations 💰
– The capex spend for the quarter was Rs 550 crore, while the annual capex stood at Rs 1,850 crore.
– Total debt from banks and financial institutions amounted to Rs 4,040 crore, with optionally convertible debentures at Rs 160 crore as of March 31, 2024.
– The company’s debt from banks and financial institutions decreased by Rs 7,090 crore over the past year, standing at Rs 11,130 crore in Q4FY23.
– The cash and bank balance as of March 31, 2024, was reported at Rs 170 crore.
– Payment obligations to the government totaled Rs 203,430 crore, including deferred spectrum payment obligations of Rs 1,33,110 crore and AGR liability of Rs 70,320 crore.
Hot Take: Reflecting on Vodafone Idea’s Financial Performance 📈📉
As a crypto investor, staying informed about the financial performance of Vodafone Idea can provide valuable insights into the telecom sector’s dynamics. From revenue growth to subscriber base expansion and debt reduction, the company’s Q1 FY24 results offer a comprehensive overview of its operations. By keeping an eye on key financial metrics and CEO perspectives, you can better understand Vodafone Idea’s strategic direction and market position in the ever-evolving telecommunications industry.
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