Quarterly revenue for the cash-strapped operator increased over 3% sequentially to Rs 9,717.3 crore in the October-December quarter, while ARPU rose to Rs115 from Rs109 in the previous quarter.
“We are pleased to announce second consecutive quarter of revenue growth driven by several tariff interventions taken in last few months. While the overall subscriber base has declined as a result of the tariff interventions, the 4G subscriber base remained resilient on the back of superior data and voice experience offered by Vi GIGAnet,” Ravinder Takkar, MD & CEO, Vodafone Idea Limited, said in a statement Friday.
“We remain focused on executing our strategy to improve our competitive position and win in the marketplace. Separately, we have opted for upfront conversion of interest arising from deferment of spectrum and AGR dues into equity,” he added.
India’s only loss-making private operator – dragged by high finance and depreciation costs – reiterated that its future depended on multiple factors including successful fundraising and support of its lenders. Its auditor, in a report, said that the company’s financial performance has hurt its ability to generate sufficient cash flows that it needs to settle or refinance its liabilities as they fall due.
“The company’s ability to continue as a going concern is dependent on its ability to raise additional funds as required and successful negotiations with lenders for continued support and generation of cash flow from its operations that it needs to settle its liabilities as they fall due,” said the telco.