Vodafone Idea slumped 8.74% to Rs 9.08 after the company recorded a consolidated net loss of Rs 7,022.80 crore in Q4 FY21 as against a net loss of Rs 11,643.5 crore in Q4 FY20.
Revenue declined 18.3% to Rs 9,607.6 crore in Q4 FY21 from Rs 11,754.2 crore in Q4 FY20. The company has registered a decline of 11.8% in revenue on a quarter-on-quarter (QoQ) basis, out of which 9.6% was on account of abolishment of domestic IUC effective from 1 January 2021 and 2.2% was on account of lower number of days in the quarter. Average daily revenue, adjusted for IUC impact was flat QoQ.
EBITDA, however, improved by 0.7% to Rs 4,408.7 crore in the fourth quarter from Rs 4,380.1 crore in the same period last year. EBITDA margin was at 45.9% as on 31 March 2021 as against 37.3% as on 31 March 2021.
The fourth quarter had one-off of Rs 450 crore primarily in network and IT costs. Capex spend in Q4FY21 was Rs 1540 crore as against Rs 1820 crore in Q4 FY20 and Rs 970 crore in Q3 FY21.
The company recorded a pre-tax loss of Rs 7,042.3 crore in Q4 FY21 compared with a pre-tax loss of Rs 11,742.6 crore in Q4 FY20.
Vodafone Idea's subscriber base stood at 267.8 million in Q4FY21, a QoQ decline of 2.0 million. The gross additions continued to improve this quarter as well. Subscriber churn was 3.0% in Q4FY21 as against 2.3% in Q3FY21.
ARPU for Q4 FY21 declined to Rs 107 from Rs 121 in Q3FY21, on account of removal of IUC, adjusting for which ARPU was broadly flat this quarter.
Gross debt (excluding lease liabilities) as of 31 March 2021 was Rs 180310 crore, comprising of deferred spectrum payment obligations of Rs 96270 crore and AGR liability of Rs 60960 crore that are due to the Government and debt from banks and financial institutions of Rs 23080 crore.
The AGR liability is currently taken without considering any impact of corrections which may arise out of the Modification Application filed by the Company. Cash & cash equivalents were Rs 350 crore and net debt stood at Rs 179960 crore.
The teleco recorded a loss of Rs 44,233.1 crore in FY21 as compared with a net loss of Rs 73,878.1 crore in FY20. Revenue declined by 6.7% to Rs 41,952.2 crore in FY21 over FY20.
Ravinder Takkar, MD & CEO, Vodafone Idea, said FY21 has been a transformational year for Vodafone Idea with several important milestones achieved including launch of our unified brand Vi.
In the year of the pandemic, when people and businesses were hugely dependent on telecom connectivity, we delivered superior network experience and improvement in several operating metrics supported by Vi GIGAnet, which remains the fastest 4G network in India, as per Ookla, as well as the network with highest rated voice quality as per TRAI.
We enter FY22 with renewed focus on executing our strategy to keep our customers ahead, and our cost optimization plan remains on track to deliver the targeted savings. We are in active discussion with potential investors for fund raising, to achieve our strategic intent."
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is amongst India's leading telecom service provider. The company provides pan India Voice and Data services across 2G, 3G and 4G platforms.
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