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Vodafone Idea has reported a reduced quarterly loss of Rs 7,166.1 crore and is planning to raise up to Rs 20,000 crore, subject to necessary approvals. The company, which is dealing with substantial debts, is optimistic about receiving government assistance regarding AGR issues and intends to broaden its 5G services throughout India by August 2025.
The debt-burdened telecom operator Vodafone Idea disclosed a narrowed loss of Rs 7,166.1 crore for the March quarter, a decrease from Rs 7,674.6 crore the previous year. The company has revealed intentions to raise as much as Rs 20,000 crore, pending approvals from shareholders and regulators.
Vodafone Idea, which is facing considerable debts amounting to Rs 1,94,910.6 crore related to spectrum and AGR obligations, is actively seeking additional government support. Its revenue for the fourth quarter increased by 3.8% year-on-year to Rs 11,013.5 crore, attributed to a rise in tariffs and customer upgrades, leading to an increase in ARPU to Rs 175.
The telecom giant plans to enhance its 5G services in major Indian cities by August 2025 while concurrently negotiating with lenders to finance its capital expenditure plans. Despite facing recent challenges, including a Supreme Court rejection of its plea concerning AGR dues, the company remains hopeful about obtaining the necessary support.
(Newsroom staff only edited this story for style from a syndicated feed)
