Vodafone Idea Q1 Results: Loss Widens to ₹6,608 Crore Despite Revenue Growth

Debt-laden telecom operator Vodafone Idea (Vi) reported a consolidated net loss of ₹6,608 crore for the quarter ended June 30, 2025, as higher finance costs and government levies offset revenue gains.

Key Financials

Net loss: ₹6,608 crore (vs. ₹6,426.7 crore in Q1 FY24)
Finance cost: ₹5,892.8 crore, up 7% YoY
Licence & spectrum charges: ₹947 crore, up 6% YoY
Revenue from operations: ₹11,022.5 crore, up 5% YoY
Average revenue per user (ARPU): ₹177, up 15% YoY (from ₹154)

The company said higher ARPU and network investments helped slow customer losses significantly. Subscriber decline dropped to 5 lakh during the quarter, compared to 50 lakh in late 2024.

Network Expansion & 5G Rollout

Vi invested ₹2,440 crore in capex during the quarter, adding over 4,800 new 4G towers. Its total broadband site count now stands at around 516,200.

Subscriber base: 19.77 crore
4G & 5G users: 12.74 crore
5G rollout: Now live in 22 cities, including Mumbai, Delhi, Bengaluru, Mysuru, Surat, and Ahmedabad. The company plans to cover all cities across its 17 priority circles by September 2025.

Debt and Funding Challenges

Vodafone Idea continues to grapple with a massive debt load of over ₹2 lakh crore. This includes:

Bank debt: ₹1,944.5 crore (including accrued interest)
Deferred spectrum & AGR obligations: ₹1,99,140.3 crore

The telco said its ability to meet these liabilities depends on:

Additional support from the Department of Telecom (DoT) on AGR dues.
Successful fundraising through equity and debt.
Positive cash flows from operations.

Promoters are expected to infuse ₹6,393.9 crore in assets if part of the AGR dues are paid by December 2025.

Leadership Change

The board has approved the elevation of Abhijit Kishore as Chief Executive Officer, effective August 19, succeeding Akshaya Moondra, whose three-year tenure ends on August 18.