Vodafone Idea Share Price Dips 5.90%; Posted 1.7% QoQ Revenue Growth in Q3 FY25

Vodafone Idea Limited announced its financial results for the third quarter and nine months ended December 31, 2024.

On February 12, 2025, Vodafone Idea share price opened at ₹8.80, almost the same as its previous close of ₹8.82. At 9:48 AM, the share price of Vodafone Idea was trading at ₹8.30, down by 5.90% on the NSE.

Q3 FY 2025 Financial Highlights

For Q3 FY25, Vodafone Idea’s revenue stood at ₹111.2 billion, marking a 1.7% quarter-on-quarter (QoQ) growth. The rise in customer revenue by 1.6% was driven by recent tariff hikes implemented by all private telecom operators.

EBITDA for the quarter stood at ₹47.1 billion, while cash EBITDA (pre-Ind AS 116) increased by 5.4% QoQ to ₹24.5 billion. The company stated it as the highest quarterly cash EBITDA in six years since the merger.

The company’s ARPU improved to ₹173 from ₹166 in Q2 FY25, reflecting a 4.7% QoQ increase. Vodafone Idea’s total subscriber base stood at 199.8 million, with 126 million 4G users.

The company’s bank debt lowered by ₹52.9 billion over the last year to ₹23.3 billion as of December 31, 2024. Meanwhile, net loss narrowed from ₹71,759 million in Q2 FY25 to ₹66,093 million in Q3 FY25.

Other Highlights

Vodafone Idea continued its network expansion efforts, investing ₹32.1 billion in Q3 FY25. The total capital expenditure for the first nine months of the fiscal year reached ₹53.3 billion, and the company expects to invest approximately ₹100 billion in FY25.

In December 2024, the Department of Telecommunications (DoT) extended its support to the telecom industry through a bank guarantee (BG) waiver. Previously, telecom operators were required to submit BGs worth ₹247.5 billion for spectrum auctions conducted before the Telecom Reform Package 2021.

With this reform, Vodafone Idea is now exempt from providing BGs for past auctions, except for a one-time requirement for the 2015 auction. This initiative highlights the government’s ongoing support for the telecom sector, ensuring that financial resources are redirected towards expanding 4G and 5G networks across India.

Commenting on the performance, the CEO of Vodafone Idea Limited, Akshaya Moondra, said, “We are driving investments and the velocity of capex deployment is set to accelerate in the coming quarters. Concurrently, the phased rollout of 5G services is underway, targeting key geographies. We are pleased to report the highest quarterly cash EBITDA since the merger of Rs. 24.5 billion, registering a YoY growth of ~15%. With our intensifying investments, we anticipate further improvement in both operational and financial performance. With the recent equity infusion of Rs. 19.1 billion from one of our promoters, we have now secured approximately Rs.260 billion in fresh equity capital over the past 10 months.”

He further added, “In parallel, we continue to engage with lenders for debt financing, aligning with our planned network expansion investment of Rs. 500–550 billion over a three-year period. The government’s decision on the bank guarantee waiver underscores its ongoing support for the telecom sector—a critical pillar of Digital India’s future.”

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