New Delhi: Telecom service provider Vodafone Idea’s net losses widened year-on-year to Rs 7,230 crore during the Q3FY22.
In the same quarter last fiscal, it was Rs 4,532 crore. In Q2FY22, it was Rs 7,132 crore.
Revenue from operations during the quarter declined to Rs 9,717 from Rs 10,894 crore in the same period in the corresponding fiscal.
However, Average Revenue Per User during the quarter stood at Rs 115, as against Rs 109 in Q2FY22, an increase of 5.2 per cent quarter-on-quarter.
“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,” MD and CEO Ravinder Takkar said.
“Revenue for the quarter was Rs 97.2 billion, a quarter-on-quarter improvement of 3.3 per cent, aided by several tariff interventions including the recent tariff hikes taken by all operators in November 2021.”
The telecom company continued to invest in 4G to increase its coverage and capacity, it said in a statement.
“During the quarter, we added 4,000 4G FDD sites primarily through refarming of 2G/3G spectrum to expand our 4G coverage and capacity as well as continued to upgrade our core and transmission network,” the company said.
In late November 2021, Vofafone Idea, along with Bharti Airtel and Reliance Jio, raised tariffs on prepaid customers by around 20 per cent.
The upward revision in tariffs helped Vodafone Idea in increasing its ARPU by five per cent in Q3FY22, it said.
(IANS)
