Vodafone Idea Narrows Q4 Losses to ₹7,166 Cr, Board Clears ₹20,000 Cr Fundraising Plan

Despite challenges, the company posts a 3.8% revenue growth in Q4FY25 and eyes future debt financing to bolster its growth trajectory

May 31, 2025: Vodafone Idea (Vi) has reported a narrowed consolidated net loss of ₹7,166.1 crore for the fourth quarter ended March 2025, compared to ₹7,674.6 crore in the same period last year. However, the losses widened from ₹6,609.3 crore in the December quarter.

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The telecom major’s revenue from operations in Q4FY25 rose 3.8% year-on-year to ₹11,013.5 crore, driven by tariff hikes and customer upgrades. Average revenue per user (ARPU) improved to ₹175, up from ₹153 a year ago — a 14.2% increase.

“This has been a turnaround quarter for us, marked by the highest average daily revenue in the past 5 years and a significant reduction in subscriber loss,” said Akshaya Moondra, CEO of Vodafone Idea.
He added that the company is working with lenders to secure debt financing to support its broader capital expenditure plans of ₹50,000–55,000 crore.

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Full-Year Performance & Financial Snapshot
For the full year FY25, Vodafone Idea’s losses narrowed to ₹27,383.4 crore from ₹31,238.4 crore in FY24, while annual revenue increased by 2.1% to ₹43,571.3 crore.

The company disclosed a significant negative net worth of ₹70,320.2 crore, with total outstanding bank debt of ₹2,345.1 crore as of March 31, 2025. Additionally, spectrum and AGR-related obligations stand at ₹1,94,910.6 crore, payable in staggered installments until FY2044 and FY2031, respectively.

On Government Support & AGR Dues
Vodafone Idea said its ability to settle these liabilities depends on government support in the AGR matter, successful fundraising, and improved cash flows. The Supreme Court recently dismissed Vi’s plea for AGR dues relief, but the company emphasized that this does not preclude future engagement with the government for a resolution.

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Fundraising Plan Cleared
The company’s board has approved raising up to ₹20,000 crore through various means — including public offers, private placements, convertible debentures, and global depositary receipts. A dedicated Capital Raising Committee has been authorized to decide the optimal route.

Promoter & Government Stake Update
The government’s equity stake in Vodafone Idea has increased to 49% from 22.6% following the conversion of spectrum dues, while the promoter shareholding has dropped to 25.6%. However, operational control remains with the promoters.

On Friday, Vodafone Idea shares closed 3.22% lower at ₹6.92 on the BSE.

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Vodafone Idea Q4FY25 results, Vodafone Idea net loss, telecom sector, AGR dues, spectrum payments, debt restructuring, India telecom, Vodafone Idea fundraising