Transcript of the Analyst/Investor Call held on 18 August 2025 relating to Company's Performance for the first quarter ended 30 June 2025
IDEA · price
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Awaiting price reaction for this filing.
Vodafone Idea reported Q1 FY26 revenue of Rs. 110.2 billion (up 4.9% YoY) and cash EBITDA of Rs. 21.8 billion (up 3.7% YoY), with reported EBITDA at Rs. 46.1 billion versus Rs. 42 billion a year ago. The company invested Rs. 24.4 billion in capex during the quarter, expanded 4G population coverage to ~84%, and rolled out 5G services across 22 cities in 13 circles, with plans to cover all 17 priority circles by September 2025. Subscriber losses narrowed sharply to 0.5 million (about 90% lower than recent quarters), while consumer ARPU rose 14.9% YoY to Rs. 177 and 4G data traffic grew ~10.4% YoY. The call also marked CEO Akshaya Moondra's final earnings call, with Abhijit Kishore taking over as the new CEO. The company disclosed government spectrum-to-equity conversion of Rs. 369.5 billion, bank debt reduction to Rs. 19.3 billion, and total AGR plus deferred spectrum liabilities of roughly Rs. 195,000 crores.
For shareholders, the transcript signals continued subscriber stabilization and a steady leadership transition, but the company remains capital-constrained, with the larger Rs. 500-550 billion three-year capex plan dependent on tying up fresh bank funding, which is itself gated on AGR clarity from the government. Short-term stock impact is likely muted as the content mirrors previously disclosed quarterly results and does not introduce new material catalysts.