Vodafone (NASDAQ:VOD) Idea Ltd reported a widened net loss of Rs 8,738 crore ($1.17 billion) for the second quarter of the fiscal year 2024 (Q2FY24), a notable increase from Rs 7,596 crore ($1.02 billion) year-over-year. The announcement was made on Thursday.
Despite the increased net loss, the company's Average Revenue Per User (ARPU) saw a 2.1% quarter-over-quarter increase to Rs 142 ($1.91), attributed to subscribers migrating to higher ARPU plans. Furthermore, the firm's revenue remained steady at Rs 10,716 crore ($1.44 billion), compared to Rs 10,615 crore ($1.43 billion) in the same quarter of the previous fiscal year.
The telecom giant also reported an expansion in its 4G subscriber base for the ninth consecutive quarter, reaching 124.7 million. This growth occurred despite a marginal quarterly decline of 1.6 million in the overall subscriber base, which currently stands at 219.8 million.
High data usage per broadband customer was noted at an average of 15.8 GB/month, with total data traffic witnessing a growth of 2% quarter-over-quarter.
Despite these positive trends, Vodafone Idea's shares took a hit on Thursday, closing at Rs 10.73 ($0.14) on BSE, down by 1.2%.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.