Vodafone Idea Reports First Subscriber Growth Since 2018

Vodafone Idea Limited reported a strong April-June quarter, marking its first quarterly net subscriber addition since its 2018 merger. The company's customer base grew to 193.1 million, and its net loss narrowed to 3,754 crore, exceeding market expectations. Revenue from operations rose 6% year-on-year to 11,689 crore, driven by network expansion and higher data consumption.

Despite the operational recovery, the company faces severe financial pressure. It owes 49,000 crore in spectrum dues over the next three years and carries total deferred payment obligations exceeding 1.3 trillion. To fund a 45,000-crore network expansion plan and manage these costs, the company is seeking 35,000 crore in bank debt.

Chief Executive Officer Abhijit Kishore attributed the performance to the company's strategy and disciplined execution. Meanwhile, Non-executive Chairman Kumar Mangalam Birla advocated for periodic tariff adjustments, arguing that India's average revenue per user remains among the lowest globally and that such changes are necessary to finance next-generation networks.