The company announced that its subscriber base fell to 234.4 million from 240.4 million in the first quarter

Akshaya Moondra, CEO of Vodafone Idea, said: “We are pleased to announce the fifth consecutive quarter of revenue growth and 4G subscriber growth. This achievement is primarily driven by the continued growth of the 4G subscriber base based on Vi GIGAnet’s superior data and voice experience.”

“Our Board recently approved the issuance of Rs 1600 crore Optional Convertible Notes to ATC India. We continue to work with our lenders and investors to raise additional funds to make the necessary investments for network build-out and 5G rollout.”

Revenue for the quarter was Rs 10,614 crore, an improvement of 2.0 per cent over the previous quarter. On an annual basis, sales growth was 12.8 percent. Capex expenditure for the quarter stands at Rs 1210 crore versus Rs 840 crore in the first quarter of FY23.

Total gross debt (excluding lease liabilities and including accrued but not due interest) as at 30 September 2022 is Rs 220,320 crore consisting of deferred spectrum payment obligations of Rs 136,650 crore (including Rs 17,260 crore for spectrum sold at the last spectrum auction was acquired). ) and AGR debt of Rs 68,590 crore due to the Government and debt of banks and financial institutions of Rs 15,080 crore.

“We remain focused on expanding our high-speed broadband network coverage and capacity. We continue to refarm 2G/3G spectrum to expand our 4G coverage and capacity and to upgrade our core and transmission network. We closed 19,000 3G locations during the quarter while adding 8,500 4G locations. Our total number of broadband sites as of September 2022 was 444,228. To date, we have deployed 74,300 TDD sites, in addition to deploying 13,800 Massive MIMO sites and 13,200 Small Cells.”

“Our 4G network covers over 1 billion Indians as of September 30, 2022 (4G coverage is the population that VIL has reached/covered with its 4G network). These network investment initiatives continue to significantly increase our overall data capacity,” the company said.