Debt-ridden Vodafone Idea’s (Vi) net loss narrowed by 22 per cent annually to ₹5,521 crore, discounting the one-time accounting gain arising from AGR re-assessment of ₹58,116 crore as well as labour code impact. Average revenue per user (ARPU) grew 6 per cent annually and increased by 1.1 per cent sequentially to ₹174.
Meanwhile, the subscriber base declined by 5.4 million year-over-year and remained flat sequentially at 192.8 million. Customer ARPU increased to ₹190, up 8.5 per cent year over year.
Revenue and EBITDA show steady growth
Revenue from operations grew 2.8 per cent annually to ₹11,332 crore, and EBITDA for the quarter was ₹4,889 crore, an annual increase of 4.9 per cent.
Sequentially, the loss narrowed 4.4 per cent, while revenue from operations remained flat. The 4G/5G subscriber base grew to 128.9 million.
Annual performance and balance sheet update
For the year, revenue from operations grew 2.9 per cent to ₹44,873 crore while net loss widened 13 per cent from FY25 to FY26.
As of March 31, 2026, bank debt stood at ₹726 crore, down from ₹2,326 crore for the same period last financial year.
CEO highlights turnaround momentum
Abhijit Kishore, CEO, Vodafone Idea, said, “The gains from the capex investments and network rollout are now clearly visible. Q4FY26 marks a decisive step forward with all seven key parameters that we benchmark our performance to, demonstrating sequential improvement. Most significantly, our subscriber addition turned net positive since February 2026, a meaningful milestone that reflects the impact of our sustained network investment. We also expanded our 4G coverage to include a population of over 48 million and our 5G experience is now live in over 80 cities in line with our commitment to strengthen the network and deliver superior customer experience.”
Leadership change in enterprise business
The company also announced the resignation of Chief Enterprise Business Officer Arvind Nevatia, who will leave on July 28 “to pursue external opportunities.” Nevatia will be M.P. Sunil Kumar as Chief Enterprise Business Officer starting May 18. He is currently the Chief Growth Officer at Tanla Platforms Ltd.
Kumar has worked at Vi for 15 years, serving as Head of Carrier and wholesale business and as Cluster Business Head in the consumer business. He has also worked as CEO of Constl, a Space World group company, as well as Tata Communications and Bharti Infotel.
Published on May 16, 2026