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Vodafone Idea (IDEA) investor relations material

Vodafone Idea Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary11 Nov, 2025

Executive summary

  • Leadership transition completed with new CEO and CFO, focusing on operational excellence and long-term value creation.

  • Revenue for Q2FY26 was Rs. 111.9 billion, up 2.4% year-over-year, with continued network investments and 5G rollout completed in all 17 priority circles.

  • Strategic initiatives include 5G rollout, digital ecosystem expansion, and enterprise solutions.

  • Net loss for the quarter narrowed to Rs. 55,242 million from Rs. 71,759 million in Q2FY25.

  • Supreme Court allowed government to reassess AGR dues, with ongoing discussions with DoT.

Financial highlights

  • Revenue for Q2 FY26 was INR 111.9 billion, up 2.4% year-on-year and 1.6% sequentially.

  • Reported EBITDA reached INR 46.9 billion, up 3% year-on-year, with margin improving to 41.9%.

  • Cash EBITDA was INR 22.5 billion, down 3.4% year-on-year but up 3% sequentially.

  • Net loss after tax for Q2FY26 was Rs. 55,242 million, compared to Rs. 71,759 million in Q2FY25.

  • CAPEX for the quarter was INR 17.5 billion; H1 FY26 CAPEX at INR 42 billion.

Outlook and guidance

  • Targeting 90% 4G coverage in the next few quarters, requiring an additional INR 4,000 crore CAPEX.

  • FY26 CAPEX guidance is INR 7,500–8,000 crore, funded through internal accruals and existing resources.

  • Focus remains on expanding 4G/5G coverage and enhancing customer engagement.

  • Engaged with lenders to secure debt financing to support capex plans of Rs. 500-550 billion.

  • Confident in ability to arrange funding and generate operational cash flows, contingent on DoT support and AGR liability resolution.

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Frequently asked questions

Vodafone Idea Limited is a telecommunications company in India offering mobile voice and data services under the brand name Vi. Formed from the merger of Vodafone India and Idea Cellular, the company provides a range of telecom services, including 4G, 3G, and 2G mobile networks, as well as digital solutions for consumers and businesses. Vodafone Idea also offers value-added services like mobile payments, cloud services, and IoT solutions, catering to both urban and rural customers across India. The company is headquartered in Mumbai, India, and its shares are listed on the BSE and NSE.

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