Vodafone-Idea Q2 Result: VI suffers net loss of Rs 7,595 crore in Q2

Telecom company Vodafone-Idea (VI) announced the results for the second quarter (Q2FY23) ended September 2022 on Friday (November 4). The company's net loss for the quarter grew 6.4% year-on-year to Rs 7595 crore. The company had a net loss of Rs 7,132 crore in the same quarter last year.
VI is India's third-largest mobile voice and data operator company. The company's gross revenue in the second quarter (July-September quarter) grew 12.8% year-on-year to Rs 10,614 crore. The company's operating profit (EBITDA) for the quarter grew nearly 6% to Rs 4,097 crore.
The company's operating expenses increased by 17.5% to Rs 6,517 crore in the second quarter. At the same time, the company's financial expenses increased by 18.7% to Rs 6,033 crore. The company's Average Revenue Per User (ARPU) quarter-on-quarter grew by 2.3% at Rs 131, from Rs 128 in Q1.
The company lost 6 million subscribers during the second quarter, reducing its user base to 234.4 million. VI's subscriber base declined year-on-year to 18.6 million, despite a 68% jump in marketing costs in Q2FY23.
VI's net interest burden is 90% of its market capitalization of Rs 26,947 crore. The company's 4G customers grew by 1.6 million to 120.6 million. Data consumption by 4G customers also increased by 4.6% to 15GB per month. VI's net debt also increased to Rs 2.2 lakh crore.