New Delhi: Vodafone Idea Ltd (Vi) reported a narrower net loss for the December quarter as improving customer metrics and regulatory relief on adjusted gross revenue (AGR) dues supported its operating performance.
The telecom operator posted a consolidated net loss of ₹5,286 crore in Q3FY26, compared with ₹6,609 crore a year earlier, while revenue from operations rose 1.9% year-on-year to ₹11,323 crore, according to regulatory filings approved by the board on January 27.
Average revenue per user (ARPU), a key profitability metric, increased to ₹186 from ₹173 a year ago, driven by customer upgrades and higher data consumption. Average data usage among 4G/5G users climbed 26.7% YoY to 19.2 GB per user, while the 4G/5G subscriber base expanded to 128.5 million.
Operationally, Vi continued to invest in network expansion, adding over 6,500 new 4G towers during the quarter and extending 4G population coverage to 85.5%. The company said 5G services are now live across 43 cities in 17 priority circles, which account for nearly all of its revenue.
A key positive for the quarter was regulatory clarity on legacy dues. The Department of Telecommunications has frozen Vi’s AGR liability at ₹87,695 crore as of December 31, 2025, subject to reassessment, with a long-tenure payment plan involving limited cash outgo over the next decade. The development is expected to ease near-term liquidity pressure and support the company’s going-concern outlook.
During the quarter, Vi raised ₹3,300 crore through non-convertible debentures, underscoring lender confidence despite the AGR overhang. Cash EBITDA (pre-Ind AS 116) rose sequentially to ₹2,358 crore, while reported EBITDA stood at ₹4,816 crore.
Chief executive Abhijit Kishore said the quarter marked an “inflection point” for the company, citing AGR resolution, settlement of promoter receivables and improved customer engagement as factors strengthening Vi’s turnaround trajectory.
Despite the improvements, Vi remains under financial stress, with a nine-month net loss of ₹17,418 crore and negative net worth. Management said it is in discussions with banks to raise additional funds and remains confident of meeting obligations over the next 12 months on the back of operating cash flows and recent regulatory relief.