Q1 2027 Vodafone Idea Ltd Earnings Call Transcript
Key Points
- Revenue grew 6% year-over-year to INR11,689 crores, with cash EBITDA up 13.5% to INR2,475 crores.
- Achieved first quarter of positive net subscriber additions since the merger, with total subscribers reaching 193.1 million.
- Customer ARPU increased 10.2% year-over-year to INR195, marking 20 consecutive quarters of growth.
- Expanded 4G coverage to 87% and launched 5G services in over 200 cities across all 17 circles.
- Secured credit rating upgrades to Crisil A-/(Stable) and ICRA A-/(Stable), and raised INR6,400 crores in funding, including INR1,183 crores from warrants.
- CapEx deployment was muted in Q1 FY27 at INR1,930 crores due to geopolitical supply chain headwinds.
- Bank debt, though reduced, remains at INR211 crores, with additional NCD borrowings of INR3,300 crores, contributing to a net debt of INR3,489 crores.
- Prepaid subscriber base still faces challenges, with management acknowledging a need for improvement in this segment.
- Seasonal migration of subscribers from urban to rural areas in Q1 led to some subscriber losses in regions with limited network coverage.
- Network OpEx remains under pressure from inflationary costs like diesel, which may impact margins in future quarters.
Ladies and gentlemen, good day, and welcome to the Q1 FY27 results conference call hosted by Vodafone Idea. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Abhijit Kishore from Vodafone Idea. Thank you, and over to you, Mr. Kishore.
Thank you, Darwin. Good afternoon, and a very warm welcome to all of you. Thank you for making the time to be here today. On 10th August 2026, our Board of Directors adopted the unaudited results for the quarter ending June 30, 2026. All the results related documents are available on our website. I hope you've had a chance to go through the same.
Our robust quarter one FY27 operating and financial performance has been endorsement of our well-defined strategy, superior execution. Let me share our progress on the key strategic initiatives, after which I'll hand over to Tejas, who will share the details on the company's financial performance.
I would like to begin by updating you on seven
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