Vodafone Idea Q1 FY27: Revenue Up 6% to ₹11,689 Cr, ARPU Hits ₹195
Vodafone Idea reported Q1 FY27 revenue of ₹11,689 Cr, up 6.0% YoY. ARPU reached ₹195, a 10.2% YoY increase. Cash EBITDA grew 13.5% to ₹2,475 Cr. The company received ₹1,183 Cr from warrants and raised ₹6,400 Cr in its first funding tranche. Positive net subscriber additions were recorded for the first time since the merger.
The results show a significant turnaround with positive subscriber additions, revenue growth, and successful fundraising, which are critical for the company's financial health and future expansion plans.
The company reported positive year-on-year growth in revenue and ARPU, along with double-digit growth in Cash EBITDA. Key strategic initiatives are trending positively, and the company has secured significant funding, indicating a positive outlook.
Vodafone Idea Limited announced its unaudited financial results for the first quarter ended June 30, 2026, on August 10, 2026. The company reported a revenue of ₹11,689 Crore, marking a 6.0% year-on-year growth and a 3.2% sequential improvement, primarily driven by Average Revenue Per User (ARPU) expansion.
Cash EBITDA demonstrated a robust double-digit growth of 13.5%, reaching ₹2,475 Crore. The company also saw an increase in its subscriber base to 193.1 million customers. Notably, Vodafone Idea reported its first quarter of positive net subscriber additions since the merger, continuing the momentum from February.
The ARPU grew by 10.2% year-on-year to ₹195 in Q1 FY27, maintaining its upward trend for 20 consecutive quarters. This growth was driven by premiumization, an improving 4G/5G subscriber mix (67.4% in Q1 FY27 from 64.4% in Q1 FY26), and higher data usage per broadband subscriber. Average data usage per 4G/5G subscriber increased by 25.2% year-on-year to 21.7 GB.
In terms of funding, Vodafone Idea received ₹1,183 Crore as part-proceeds from the issue of warrants to the Aditya Birla Group. The company was also assigned a CRISIL A-/Stable rating by CRISIL in May 2026 and upgraded to ICRA A- (Stable) by ICRA in June 2026 for certain long-term bank facilities.
Vodafone Idea has raised its first tranche of funding of ₹6,400 Crore, including partial proceeds from warrants and debt from ECB and Indian private banks. Capex orders worth ₹9,000 Crore have been placed, with ₹1,930 Crore invested in Q1 FY27. The company plans to accelerate network expansion with partners like Ericsson, Nokia, and Samsung.
Product initiatives include partnerships with Spotify for premium music streaming, launch of ‘Vi Edu+’ for students, and ‘Vi Instadata’ for emergency data services. The company also partnered with Meta for silent mobile verification and strengthened its enterprise business offerings, including signing an MoU with Andhra Pradesh MSME development Corporation to digitally empower MSMEs.
During the call, management highlighted that all 7 critical business parameters mentioned previously are now trending positively. They reiterated their commitment to sustained net additions, double-digit revenue growth, and 3x cash EBITDA over the next three years, aiming to execute their roadmap with continued support from promoters and lenders.
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