Vodafone Idea on Tuesday reported a reduction in its consolidated losses to £6,563.1 billion for the March-ended Q4 compared to the same period last year, while its realization per user or ARPU improved sharply on a sequential basis.
Losses totaled £7,022.8 million in the same period last year, a company filing shows. Operating income rose 6.6% year-on-year to £10,239.5 billion in the fourth quarter of FY22.
Sequentially, revenue rose 5.4%, helped by tariff increases effective November 25, 2021, the company said in a statement. Realization per user, as measured by ARPU, was ₹124, up from ₹115 in the previous quarter. This resulted in a 7.5% sequential increase in average revenue per user (ARPU).
For the full year FY22, losses narrowed significantly to ₹28,245.4 billion from 44,233.1 crore in the previous fiscal year.
Operating income for the year ended March 2022 was ₹38,515.5 million.
Ravinder Takkar, MD and CEO of Vodafone Idea said, “We are pleased to announce the third consecutive quarter of revenue growth driven by tariff measures in November 2021.”
“We have successfully completed the first tranche of capital raising in the form of a preferred share contribution of £45 billion from our promoters,” added Mr Takkar.
The company continues to actively work with lenders and investors to raise additional funds, he said.
