Vodafone’s condition ain’t good — although losses narrowed from a year ago, the second wave ate into revenues last quarter, while subscribers were stolen by the merciless assault of its competition.
Quick look at the limping giant’s quarter:
- Revenues came down 14% YoY to ₹9,152 crores
- Lost ₹7,392 crores, down 71% YoY
- Margins shrunk down to 40.5%, from ~46%
Meanwhile, average revenue per user came down ₹3 rupees to ₹107, thanks to free recharges offered during lockdowns to keep customers activated.
Debt of ₹1.9 lakh crores, up 65% YoY and spectrum dues payable to the government continues to give bankers and lenders sleepless nights.
What matters — GOI promises an intervention via rescue package, but that’s gotta happen fast. Delays could sap morale of management, or push the business in a deeper rut, making things even harder to change.