(Image: Shutterstock/ET NOW NEWS)Vodafone Idea Latest News : Good news for Vodafone Idea customers!
The telecom operator is expected to launch 5G services in the ongoing financial year.
At the initial stage, the company has planned to launch 5G services in key cities and will expand it later to other areas.
Vodafone Idea: 4G Subscriber BaseThe 4G subscriber base of VIL increased to 12.63 crore from 12.26 crore on a YoY basis.
Vodafone Idea FPOVodafone Idea Limited raised Rs 180 billion through the largest FPO in India.
Written by : Anish Mondal Updated May 18, 2024 | 10:16 AM IST For the year ended March 31, 2024, Vodafone Idea (VIL) posted a widening loss to Rs 31,238.4 crore from Rs 29,301.1 crore a year ago. (Image: Shutterstock/ET NOW NEWS)
Vodafone Idea Latest News : Good news for Vodafone Idea customers! The telecom operator is expected to launch 5G services in the ongoing financial year. At the initial stage, the company has planned to launch 5G services in key cities and will expand it later to other areas.
Aditya Birla Group holds a 17.5 per cent stake in the company, Vodafone Group has 31.4 per cent and the government has a 32.2 per cent share in the company.
In an investor call relating to the company’s performance for the fourth quarter and financial year ended March 31, 2024, Akshaya Moondra, Chief Executive Officer (CEO), of Vodafone Idea said that the company will roll out 5G services soon.
“Since we will be launching 5G now, we will be effectively utilizing the capex spend as we will be able to address the part of the capacity requirements via 5G instead of 4G,” Moondra added.
The company also plans to enhance its services to offer seamless and world-class digital experience to customers. "We have completed minimum rollout obligations for 5G in 4 circles of Maharashtra, Delhi, Tamil Nadu, and Punjab," the company stated in a regulatory filing.
Vodafone Idea: Debt Fund Raise
The telecom firm is in talks with a consortium of banks to raise Rs 250 billion and additional non-fund-based facilities of up to Rs 100 billion. “Post the Telecom reforms package in September 2021, our bank exposure has reduced by ~ Rs 346 billion,” the company said in an exchange filing.
Vodafone Idea Q4FY24 Results
Vodafone Idea has reported widening of losses to Rs 7,675 crore in the March quarter amid a rise in interest and financing cost, while its overall subscriber base shrunk. It registered a loss of Rs 6,419 crore in the year-ago period. The consolidated revenue of operations remained almost flat at Rs 10,607 crore during the reported quarter.
For the year ended March 31, 2024, Vodafone Idea (VIL) posted a widening loss to Rs 31,238.4 crore from Rs 29,301.1 crore a year ago. However, the annual revenue from operations was marginally higher by 1.1 per cent to Rs 42,651.7 crore from Rs 42,177.2 crore in 2022-23.
Vodafone Idea: 4G Subscriber Base
The 4G subscriber base of VIL increased to 12.63 crore from 12.26 crore on a YoY basis. The average data consumed by 4G subscribers grew by 2.3 per cent to 15.44 GB.
Vodafone Idea FPO
Vodafone Idea Limited raised Rs 180 billion through the largest FPO in India. "The success of our FPO is testimony to the confidence and trust that has been reposed in us by investors as the issue was subscribed ~7 times," the telecom firm stated in a statement.
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