Vodafone Idea (IDEA) Q1 25/26 earnings summary

Executive summary

• Revenue grew 4.9% year-over-year to INR 110.2 billion, with cash EBITDA up 3.7% year-over-year to INR 21.8 billion.

• Net loss for the quarter was Rs. 66,081 Mn (consolidated), with negative net worth of Rs. 769,346 Mn as of 30 June 2025.

• 5G services expanded to 22 cities across 13 circles, with further rollout planned by September 2025.

• Subscriber loss reduced to 0.5 million, a 90% improvement from previous quarters.

• CEO transition announced, with Avijit Kishore taking over from Akshaya Moondra.

Financial highlights

• Revenue for the quarter was INR 110.2 billion, up 4.9% year-over-year.

• Cash EBITDA reached INR 21.8 billion, a 3.7% year-over-year increase.

• Reported EBITDA was INR 46.1 billion, up from INR 42 billion in Q1 FY2025.

• CapEx for the quarter was INR 24.4 billion.

• Finance costs remained high at Rs. 58,928 Mn for the quarter.

Outlook and guidance

• CapEx plans of INR 550 billion over three years remain, contingent on securing additional funding.

• Ability to settle liabilities depends on further support from DoT on AGR, successful fund raising, and operational cash flow generation.

• Ongoing efforts to secure bank and non-bank funding to support network expansion.

• Expectation of continued improvement in subscriber metrics as investments and 5G rollout progress.