Quarterly revenue for the cash-strapped operator increased 5.4% sequentially to Rs 10,239.5 crore in the January-March quarter, while ARPU rose to Rs124 from Rs115 in the previous quarter.
“We are pleased to announce the third consecutive quarter of revenue growth driven by tariff interventions taken in November 2021,” Ravinder Takkar, MD of Vodafone Idea, said in a statement Tuesday.
“While the overall subscriber base has been impacted primarily on account of the tariff increase, the 4G subscriber base continued to grow on the back of superior data and voice experience offered by Vi GIGAnet,” he added.
Takkar said that having concluded the first tranche of its fundraising in the form of a preferential equity contribution of Rs. 4500 crore from the company’s promoters, Vodafone Idea is actively engaged with lenders and investors for further fundraising.