Total quarterly revenue for the cash-strapped operator increased by Rs. 9406.4 crore in the July-September quarter from Rs 9152.3 crore when compared sequentially, the company said in a notice to the stock exchanges on Friday.
“We continue to improve our 4G subscriber base on the back of superior data and voice experience on Vi GIGAnet, India’s fastest mobile network, which is testified through consistent top rankings in Ookla and TRAI. We continue to focus on executing our strategy to improve our competitive position and win in the marketplace,” said MD Ravinder Takkar.
The balance sheet improvement is because of the segmented tariff increase in the telecom sector which has pushed customers on lower plans to move up the tariff packs or shift out.
The operator’s average revenue per user (ARPU)- key industry metric was Rs 109, higher than Rs 104 clocked in the previous quarter. Rivals Bharti Airtel and Reliance Jio, have posted an ARPU of Rs 153 and Rs Rs 143.60 respectively in the July -September quarter.
Vi in the second fiscal has lost 2.4 million customers to stand at 253 million.
It was a busy quarter for the telco which accepted a four-year moratorium under which it will pay previous adjusted gross revenue (AGR) and spectrum dues only after FY25-26. The cash-strapped telco had past AGR dues worth Rs 58,254 crore, of which it has paid Rs 7,854 crore.
“We welcome the Government’s landmark reform package which addresses several industry concerns and provides immediate relief to the financial stress in the sector. We also appreciate the Government’s recognition of the telecom sector’s contribution in keeping the country connected during the pandemic,” said Takkar.
The moratorium provides a lifeline for the third-largest but only loss-making private telco, which can now save up to Rs 1 lakh crore cumulatively over four years. The second largest telco, Airtel has accepted the moratoriums as well.
However, both Vi and Airtel have to inform the government whether they aim to accept the equity option as well.
