Vodafone Idea's net loss widened to ₹5,975 crore in the second quarter of fiscal year 2027, despite a slight increase in average revenue per user (ARPU). The company’s ARPU rose 1.54% quarter-on-quarter (QoQ) to ₹198, up from ₹195 in the previous quarter, but this growth was the slowest among its peers.
- Net loss increased from ₹3,754 crore in Q1 FY27 to ₹5,975 crore in Q2 FY27.
- Revenue from operations grew 1.7% QoQ to ₹11,884 crore.
- EBITDA decreased 1.05% QoQ to ₹4,981 crore, though it rose 6.32% year-on-year (YoY).
- ARPU increased 9.7% YoY, supported by customer upgrades.
- Customer base expanded nearly 1% QoQ to 194.4 million subscribers.
Why did Vodafone Idea’s net loss increase in Q2 FY27?
Vodafone Idea reported a consolidated loss after tax of ₹5,975 crore for the quarter ended September 30, 2026. This was higher than the ₹3,754 crore loss in the previous quarter and slightly above the ₹5,524 crore loss in the same quarter last year. The widening loss reflects ongoing challenges in the telecom sector, including competitive pressures and operational costs.
How did Vodafone Idea’s revenue and EBITDA perform?
The company’s revenue from operations increased by 1.7% QoQ to ₹11,884 crore, compared to ₹11,689 crore in Q1 FY27. On a yearly basis, revenue grew 6.15% from ₹11,195 crore in Q2 FY26. However, earnings before interest, tax, depreciation, and amortisation (EBITDA) declined slightly by 1.05% QoQ to ₹4,981 crore, down from ₹5,034 crore in the previous quarter. Despite this, EBITDA improved 6.32% YoY from ₹4,685 crore in Q2 FY26. The EBITDA margin contracted by 120 basis points QoQ to 41.9%, remaining flat compared to the previous year.
What is the significance of Vodafone Idea’s ARPU growth?
ARPU, or average revenue per user, is a key metric in the telecom industry. Vodafone Idea’s ARPU increased 1.54% QoQ to ₹198, and rose 9.7% YoY from ₹180 in Q2 FY26. This growth was mainly driven by customer upgrades. However, analysts noted that this quarterly ARPU growth was the slowest among Vodafone Idea’s competitors, which could impact future revenue potential.
How has Vodafone Idea’s customer base changed?
The company’s total subscriber base grew nearly 1% QoQ to 194.4 million users, up from 193.1 million in Q1 FY27. This increase in subscribers is a positive sign, with quarterly net additions reaching 1.3 million, the highest in several years and above analyst estimates.
What do analysts say about Vodafone Idea’s outlook?
Nomura analysts highlighted several positive factors for Vodafone Idea, including a successful debt capital raise, industry tariff hikes, faster subscriber additions, and strategic equity investments. However, they also pointed out risks such as slower-than-expected subscriber and ARPU growth and delays in tariff increases. The company’s EBITDA was slightly below estimates, and ARPU growth lagged behind peers.
How has Vodafone Idea’s stock performed recently?
As of November 13, 2026, Vodafone Idea shares were trading at ₹12.53 on the National Stock Exchange, down 3.39% on the day. The stock has gained 8% since the start of the year but declined 2% over the past month. The shares reached a 52-week high of ₹15.79 in September 2026 and a low of ₹8.13 in April 2026. The company’s market capitalization stood at ₹1.36 lakh crore.
