Vodafone Idea Q2 FY27: Rev ₹11,689 Cr

Investor Takeaways

Reported 6% YoY revenue growth to ₹11,689 crores in Q1 FY27

ARPU increased 10.2% YoY to ₹195, driving revenue expansion without price hikes

Cash EBITDA grew 13.5% YoY to ₹2,475 crores

Added 130.1 million 4G/5G subscribers and expanded 5G to 200+ cities

Churn reduced by 24 bps YoY amid smartphone upgrade momentum

⚠️ No specific risks identified in this filing

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹11,689 Cr	6%
Net Profit	Not available	N/A
Cash EBITDA	₹2,475 Cr	13.5%
EPS	Not available	N/A
OPM	Not available	N/A

What Changed

The filing demonstrates sequential improvement in core operational metrics despite persistent profitability challenges. Revenue growth of 6% YoY to ₹11,689 crores was driven by organic ARPU expansion of 10.2% to ₹195, achieved through customer upgrades to higher-value plans without price increases. Cash EBITDA growth of 13.5% to ₹2,475 crores indicates improving operational efficiency. The company added 130.1 million subscribers and expanded 5G coverage to 200+ cities, while reducing churn by 24 bps YoY. Quarterly trends show narrowing losses in operating performance (OPM improved from 40.01% in Q1FY25 to 42.39% in Q3FY25), though net losses remain significant at ₹6,609.3 crores in Q3FY25. The company has outlined a ₹45,000 crore 3-year capex plan targeting 3x cash EBITDA growth (CAGR 16.8%) and expansion of 4G/5G infrastructure.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Vodafone Idea Limited	-5.04	Not available	Not available	1,40,304.23
Bharti Airtel Limited	36.38	26.74%	21.81%	11,61,012.62
Indus Towers Limited	11.47	N/A	N/A	1,13,480.57
Bharti Hexacom Limited	45.07	N/A	N/A	78,115

Vodafone Idea trades at a significant discount to Bharti Airtel's valuation metrics, reflecting market skepticism about profitability recovery despite improving operational indicators.

Risks & Concerns

No specific risks identified in this filing

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	11,117.3	-6,609.3	42.39%
Q2FY25	10,932.2	-7,175.9	41.62%
Q1FY25	10,508.3	-6,432.1	40.01%
Q4FY24	10,573.7	-7,674.6	40.69%

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About Vodafone Idea Limited (IDEA)

Telecommunication · Telecom-Service · Listed on NSE

Market Cap: ₹1,52,113.62 Cr P/E: 4.1 ROE: -104.6% ROCE: 51.1%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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