Vodafone Idea reports 2.4% YoY revenue growth in Q2FY26, expands 5G/4G coverage and launches new digital services
Vodafone Idea reported 2.4% YoY revenue growth to ₹111.9 billion in Q2FY26. ARPU increased to ₹180. The company expanded 5G/4G coverage, launched 'Vi Finance' and an IoT lab, while awaiting clarity on AGR dues.
The announcement is of high impact as it provides comprehensive quarterly financial and operational results, demonstrating positive trends in key metrics like ARPU and subscriber upgrades. Significant network expansions, strategic digital product launches (Vi Finance, IoT lab), and the favorable AGR ruling are critical developments that can influence the company's long-term financial health and competitive standing in the telecom market.
The sentiment is positive due to a 2.4% YoY revenue growth, a significant 8.7% YoY increase in Customer ARPU, and continued expansion of 5G services to 29 cities with 4G population coverage reaching over 84%. Strategic product launches like 'Vi Finance' and the IoT innovation lab, coupled with a favorable Supreme Court judgement on AGR, indicate positive operational momentum and potential for future growth, despite the company still reporting losses.
* Financial Highlights for Q2FY26: * Revenue from operations was ₹111.9 billion (₹11,194.7 crore), a 2.4% year-on-year (YoY) growth. * Reported EBITDA stood at ₹46.9 billion (₹4,685.1 crore). * Cash EBITDA (excluding Ind AS 116 impact) was ₹22.5 billion (₹2,245.9 crore). * Depreciation & Amortisation expenses were ₹55.7 billion (₹5,567.5 crore), and Net Finance costs were ₹46.8 billion (₹4,682.5 crore). * Loss After Tax (PAT) was ₹(55.242) billion (₹(5,524.2) crore). * Capital expenditure (Capex) for the quarter was ₹17.5 billion (₹1,750 crore) and for H1FY26 was ₹42.0 billion (₹4,200 crore). * As of 30 September 2025, debt from banks was ₹15.3 billion (₹1,530 crore), with cash and bank balance at ₹30.8 billion (₹3,080 crore). * Operational Highlights: * Vi 5G services have expanded to 29 cities across all 17 priority circles, which contribute approximately 99% of the company's revenue. * 4G population coverage increased to over 84% as of September 2025, up from approximately 77% in March 2024. * Added over 1,500 new unique 4G towers and deployed around 3,200 new sites on the sub-GHz 900 MHz spectrum, alongside over 3,600 additional sites on 1800 MHz and 2100 MHz bands. * Total broadband site count reached approximately 527,000 as of September 2025. * Launched 'Vi Protect' initiatives, including AI-powered spam voice call protection and a Cyber Defence and Incident Response System. * Introduced the REDX Family Plan for postpaid customers, extending premium benefits and offering international roaming packs for add-on connections at discounted rates. * Customer Average Revenue Per User (ARPU) rose to ₹180 in Q2FY26, an 8.7% YoY increase, driven by customer upgrades and tariff increases. * The total subscriber base stood at 196.7 million, with 127.8 million 4G/5G subscribers, an increase from 125.9 million in the same period last year. * Business Services & Digital Offerings: * At the India Mobile Congress (IMC) 2025, Vi Business showcased AI-powered enterprise solutions and launched India’s first telco-backed IoT innovation lab in partnership with AWS and C-DOT in September 2025. * The company plans to deploy 12 million smart metering solutions in the next 3 years. * Launched 'Vi Finance' on the Vi App, enabling users to access personal loans, fixed deposits, and credit cards through strategic partnerships with Aditya Birla Capital and InstaMoney. * The Vi App has enhanced its offerings to include utility bill payment, metro ticket booking, and other digital services. * AGR Update: * Vodafone Idea welcomed the Supreme Court’s judgement dated October 27, 2025, and November 3, 2025, allowing the Union of India to reconsider and reconcile additional AGR demand for periods up to FY2016-2017. Discussions with the DoT are ongoing.
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Vodafone Idea Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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