Vodafone Idea reported its June quarter earnings late on Monday evening.

What Happened: The telecom company reported a net loss of ₹6,432 crore, compared to a net loss of ₹7,840 crore in the previous year. Its revenue was down around 1.8% to ₹10,508 crore in the June quarter. In the previous year, the revenue was at ₹10,655.5 crore.

Kotak Institutional Equities expected a net loss of ₹7,489 crore and a revenue of ₹10,618.3 crore. The Average Revenue Per User (ARPU) for the quarter was ₹146, marking a 4.5% year-on-year increase from ₹139. This growth was primarily driven by changes in the entry-level plan and subscriber upgrades.

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The 4G subscriber base continued its upward trend for the 12th consecutive quarter, rising to 12.67 crore. The total subscriber base reached 21.01 crore.

The telecom company’s quarterly EBITDA (pre-Ind AS 116) increased by 4.2% year-on-year, reaching ₹2,100 crore.

In the June spectrum auctions, Vodafone Idea acquired 50 megahertz (MHz) of spectrum across 11 circles by investing  ₹3,510 crore. The telecom along with its peers had also raised recharge prices for its prepaid and post paid subscribers by an average of 16.26%.

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