Vodafone Idea’s next quarterly report will test whether subscriber growth and higher customer spending can continue as the Indian telecom operator pursues network expansion and carries substantial government dues.
The company’s unaudited filing with the National Stock Exchange of India (NSE) reported revenue from operations of ₹11,689 crore and a consolidated net loss of ₹3,754 crore for the quarter ended June 30. CEO Abhijit Kishore said on the Q1 FY27 earnings call that the company had recorded its first quarterly net subscriber additions since its merger. Vodafone Idea ended the quarter with 193.1 million subscribers and customer average revenue per user (ARPU) of ₹195, up 10.2% from a year earlier. It linked the increase mainly to a higher 4G and 5G subscriber mix and greater data use.
Vodafone Idea’s three-year capital expenditure plan totals ₹45,000 crore. The company said it had placed ₹9,000 crore in capex orders by its Q1 earnings call and spent ₹1,930 crore on capex during the quarter. Vodafone Idea said in an exchange filing that the Department of Telecommunications (DoT) had finalized its adjusted gross revenue dues at ₹64,046 crore as of Dec. 31, 2025. The filing schedules payments of at least ₹100 crore annually from FY 2031-32 through FY 2034-35. The remaining balance is to be paid in equal yearly amounts from FY 2035-36 through FY 2040-41.
Mint reported an intraday NSE quote of ₹11.60 at 1:27 a.m. ET (05:27 UTC) on Oct. 22, compared with about ₹9.55 six months earlier. The two prices put the six-month move at roughly 21.5%. Mint also reported a decline of about 20% in the month before its update.
For the quarter ended Sept. 30, Business Today and Mint attributed to UBS an expectation that Vodafone Idea’s subscriber base would stay near 195 million, and to ICICI Securities an estimate of about one million sequential net additions, including roughly 100,000 4G additions. Vodafone Idea has not issued either estimate as its own forecast. UBS’s disclosure page lists a ₹14.50 price target and Neutral rating dated Oct. 1. Business Today and Mint reported a ₹13 target and Neutral rating from Centrum Broking.
Mint reported that Vodafone Idea had not announced a date for its Q2 results. The outlet said expectations pointed to a release around mid-November.
