Vodafone Idea’s (Vi’s) net loss widened by 7.5 per cent year-on-year (YoY) to Rs. 7,837 crore in the April-June quarter of 2023-24 (Q1FY24) because of increased expenses. A year ago, the telecom company had reported a net loss of Rs. 7293.3 crore.

Sequentially, the performance was even worse as the telco’s net loss widened by 22 per cent. The cash-strapped company witnessed a spike in finance cost and sluggish rise in operational revenue.

Net sales of the company stood at Rs. 10,610.4 crore, up 1.9 per cent Y-o-Y and just 1 per cent sequentially. Earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at Rs. 4,157 crore, down 1.2 per cent Y-o-Y from Rs. 4,210 crore.

The average revenue per user (ARPU) for the June quarter rose to Rs. 139 from Rs. 135 in the preceding quarter. The company said this was primarily aided by migration of subscribers to higher ARPU plans.

Vi’s 4G subscriber base continued to grow for the eighth consecutive quarter and stood at 122.9 million customers, up from 122.6 million in the preceding quarter. However, the company lost 4.5 million subscribers over the quarter, and had a total of 221.4 million customers at the end of June, as compared to 226 million at the end of March.