Telecom operator Vodafone Idea on Thursday reported a widening of its consolidated net loss to Rs 5,975 crore for the July-September quarter of financial year 2026-27, compared with Rs 5,524 crore in the corresponding period last year, even as revenue and key operating indicators improved.
The company's revenue from operations rose 6.2 per cent year-on-year to Rs 11,884 crore from Rs 11,195 crore in the second quarter of FY26, according to a regulatory filing.
On a sequential basis, Vodafone Idea's net loss increased sharply from Rs 3,754 crore in the April-June quarter, while revenue registered a modest growth of 1.7 per cent.
The company attributed the higher reported loss primarily to the adverse impact of mark-to-market adjustments relating to treasury assets.
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Vodafone Idea reported an exceptional loss of Rs 462 crore during the quarter following the remeasurement of 328 crore shares earmarked by Vodafone Group entities for a five-year period.
In the preceding quarter, the company had recorded an exceptional gain of Rs 1,816 crore from the same shares, contributing to the significant sequential difference in reported profitability.
Excluding exceptional items, the company's net loss stood at Rs 5,513 crore in the September quarter, marginally lower than the adjusted loss of Rs 5,562 crore reported in the corresponding quarter of the previous financial year.
The adjusted figures indicated a slight improvement in underlying performance despite the widening of the reported net loss.
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Vodafone Idea's total subscriber base increased to 19.44 crore at the end of September from 19.31 crore in the June quarter, reflecting an improvement in customer additions.
However, the subscriber base remained below the 19.67 crore recorded in the corresponding quarter of the previous year.
The company also reported growth in its 4G and 5G customer base, which increased to 131 million from 127.8 million a year earlier.
The increase in higher-generation mobile subscribers reflected continued demand for data services and the company's efforts to strengthen its network infrastructure.
Customer average revenue per user (ARPU), a key measure of telecom profitability, rose 10 per cent year-on-year to Rs 198 from Rs 180 in the September quarter of FY26.
The company said the improvement was primarily driven by customers upgrading their plans and services.
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Vodafone Idea Chief Executive Officer Abhijit Kishore said the company was encouraged by the improvement in net subscriber additions, supported by network expansion and an enhanced customer experience.
"We are encouraged by the continued improvement in our net subscriber additions, supported by our network expansion and enhanced customer experience," Kishore said.
He said the telecom operator had strengthened its customer offerings through innovative products, including free international roaming and family prepaid plans.
The company has also introduced a refreshed brand identity and promotional campaigns aimed at improving customer engagement and retention.
According to Kishore, the new initiatives have received an encouraging response from subscribers.
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Vodafone Idea said it had placed capital expenditure orders worth more than Rs 13,200 crore as part of its ongoing network expansion programme.
Of this amount, nearly Rs 6,000 crore of capital expenditure had already been executed.
The investments are intended to improve network coverage, enhance service quality and support the expansion of the company's 4G and 5G services.
Kishore said the company was making progress in discussions to secure additional funding, which would enable it to place further equipment orders and sustain network development.
"Encouraged by our progress in discussions to raise funding, we are confident of placing additional orders and sustaining the momentum in our network expansion," he said.
The company's latest quarterly results highlighted a mixed financial performance, with higher revenue, improved ARPU and sequential subscriber growth offset by continued losses and exceptional charges.
Vodafone Idea's ability to maintain network investment and improve its financial position will remain important as it competes with larger telecom operators in India's mobile services market.