Vodafone Idea earnings calls.

Vodafone Idea delivered a structurally positive Q1 FY27 with all seven critical business parameters trending positively. Revenue grew 6Current 6 crore vs previous available quarter 2.4 crore.% YoY to ₹11,689 croreCurrent reported value: ₹11,689 crore. No comparable prior figure is available in the source record. with 3.2% sequential improvement, while EBITDA expanded 120bps YoY to 43.1Current 43.1 crore vs previous available quarter 41.9 crore.% margin. The highlight was first positive net subscriber addition since merger, reaching 193.1 millionCurrent 193.1 million. Reported change: +First net addition since merger. total subscribers, with 4G/5G base at 130.1 million. Customer ARPU rose 10.2% YoY to ₹195Current ₹195. Reported change: +10.2% YoY; +2.6% QoQ. — highest industry growth and 20 consecutive quarters of improvement. Cash EBITDA grew 13.5% to ₹2,475 crore despite deploying 15,600 new sites in 12 months, reflecting operational efficiency. Net debt reduced sharply to ₹3,489 crore from ₹5,204 crore a year ago, supported by ₹1,183 crore warrant proceeds and ₹6,400 crore first tranche of three-cohort funding architecture. The company maintained its ₹45,000 crore three-year capex guidance and 3x cash EBITDA target. Key risks include sustained high debt, geopolitical supply chain constraints delaying site deployment, and prepaid subscriber pressure in network-underpenetrated rural circles. 5G footprint now spans 200+ cities with 16,000+ sites; medium-term targets include 55,000-57,000 4G sites and 86,000-90,000 5G sites.