Vodafone Idea Limited has released its financial results for the fiscal year 2022-23’s fourth quarter.

The company’s average daily revenue increased by 4 percent quarter on quarter, reaching Rs. 105.3 billion.

Furthermore, EBITDA increased to Rs. 20.7 bn in the third quarter of the fiscal year, up from Rs. 20 bn in the previous quarter.

Furthermore, VIL increased its 4G subscriber base to 6 mn during the fourth quarter, up from 121.6 mn in the previous quarter, Q3FY23.

Highlights for the Quarter

• Average Daily Revenue up 4% QoQ with revenue at Rs. 105.3 billion
• 4G subscriber base increased to 6 million vs 121.6 million in Q3FY23
• EBITDA (pre IndAS116) improved to 20.7 billion, compared to Rs. 20 billion in Q3FY23
• Continued network capacity expansion supported by spectrum refarming and network upgrade
• Vi continued to offer best voice quality as per TRAI “MyCall” App data for 25 out of 29 months between November 2020 and March 2023

Highlights for the Year

• Annual revenue improved by 5% from Rs. 385.2 billion in FY22 to Rs. 421.8 billion for the first time since merger; supported by tariff hikes, improving subscriber mix and 4G subscriber additions
• Annual EBITDA (pre IndAS116) increased from 66.8 billion to Rs. 83 billion registering strong growth of 24.1%; EBITDA margin (pre IndAS116) at 19.7%, highest post-merger
• Addition of 6 million 4G subscribers

Akshaya Moondra, CEO, Vodafone Idea Limited, said “We are pleased to report annual revenue growth for the first time post –merger on the back of consistently improving performance for last several quarters. Our annual revenue and EBITDA grew by 9.5% and 24.1% respectively compared to last financial year. We continue to see growth in ARPU and 4G subscribers.

“During the quarter, we have issued equity shares to the Government of India, against the loan representing the NPV of interest related to deferment of spectrum and AGR. We continue to remain engaged with our lenders for further debt fund raising as well as with other parties for equity or equity linked fund raising, to make required investments for network expansion, including 5G rollout,” Moondra added.