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Vodafone Idea announced Q4 result

Financial results News - Published on Tue, 14 May 2019

Image Source: Digit
Highlights for the Quarter
1. Sequential stabilization of revenues in Q4 benefiting from the introduction of 'service validity vouchers'. Revenues grew by+0.1%QoQinQ4 (Q3: -2.2%, Q2: -7.1%). Q4 average daily revenue grew by 2.3% QoQ, following 11 consecutive quarters of decline.

2. Synergy realization well on track with "60% of the synergy target achieved to date. Normalised Q4 operating expenses excluding licence fee & spectrum usage charges and roaming & access charges were " INR 12.8 billion ("INR 51 billion annualized) lower than our proforma operating expenses in Ql, i.e. the last quarter prior to completion of the merger.

3. EBITDA increased by 57% QoQto INR 17.9 billion. EBITDA normalised forone-offsstands at INR 15.9 billion.

4. Network integration is moving at a fast pace, customers now benefit from a unified network experience in the ten service areas of West Bengal, Andhra Pradesh, Haryana, Madhya Pradesh, Himachal Pradesh, Assam, North East, J&K, Bihar and Punjab.

5. Successfully closed India's largest rights issue, raising INR 250 billion of equity. The strong participation from public shareholders (ex-promoters) resulted in 1.2x subscription for the public component of the issue, demonstrating investors' strong support for our strategy.

Mr Balesh Sharma, CEO Vodafone Idea limited, said that "We are pleased with the rapid progress we have made to deliver on our stated strategy. The initiatives we have taken since the merger are yielding positive results and we are well on track to deliver our synergy targets two years early. We remain focused on fortifying our position in key profitable districts by expanding coverage and capacity ofour4G network, targeting higher share of new 4G customers by offering an enhanced network experience, whilst also improving cash flows through cost transformation. The oversubscription of our recent rights issue, the largest in India, is a clear testament to investors' support for our strategy."

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Posted By : TelecomGuru on Tue, 14 May 2019
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