Vodafone Idea Ltd announced financial results for the financial year ended on March 31, 2025.
Vodafone Idea reported a revenue of ₹110.1 billion for Q4 FY25, marking the highest average daily revenue in the last five years. On a year-on-year (YoY) basis, the cash EBITDA (pre-Ind AS 116) rose 6.5% to ₹23.2 billion. The average revenue per user (ARPU), excluding machine-to-machine (M2M) connections, improved significantly to ₹175, up from ₹153 in Q4 FY24, reflecting a 14.2% YoY growth.
The telecom operator’s total subscriber base stood at 198.2 million as of March 31, 2025. It recorded a net loss of 1.6 million subscribers in Q4, a notable improvement from a loss of 5.2 million in the previous quarter.
Vodafone Idea’s annual revenue for FY25 grew 2.2% YoY, reaching ₹435.7 billion, compared to ₹426.5 billion in FY24. The company also posted its third consecutive year of revenue and EBITDA growth. Its annual cash EBITDA (pre-Ind AS 116) grew by 9.5%, rising from ₹84 billion to ₹92 billion.
The capex spending for the fiscal year surged to ₹95.7 billion, with ₹42.3 billion spent in Q4 FY25 alone, its highest in a single quarter since the merger. This investment boosted the company’s 4G population coverage to ~83%. Additionally, 4G data capacity increased by 31%, and average speeds rose by 28% compared to March 2024.
FY25 was a landmark year for Vodafone Idea in terms of capital raising. The company secured ~₹614 billion through various routes. This includes:
On January 9, 2025, Vodafone Idea allotted ~1.7 billion equity shares at ₹11.28 each to Vodafone Group on a preferential basis. Subsequently, on April 8, 2025, it issued 36.95 billion equity shares at ₹10 each to the Government of India in exchange for spectrum dues. As a result, GoI’s stake rose from 22.6% to 49%, while promoter shareholding declined to 25.6%. Despite this shift, the promoters retain operational control.
The company also managed to significantly reduce its bank debt, which fell from ₹40.4 billion in March 2024 to ₹23.3 billion in March 2025. The cash and bank balance at the end of the year stood at ₹99.3 billion.
On June 2, 2025, Vodafone Idea share price (NSE: IDEA) opened at ₹6.93, the same as its previous close of ₹6.92. At 9:40 AM, the share price of Vodafone Idea was trading at ₹6.96, up by 0.58% on the NSE.
Also Read: Telecom Market Update April 2025: Reliance Jio Tops, Bharti Airtel and Vodafone Idea Follow!
Vodafone Idea’s FY25 results reflect steady operational improvement, focused capex spending, and a crucial turnaround in financial structuring through significant equity infusion. The company’s performance indicates progress in stabilising its business, expanding 4G services, and reducing debt.
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Published on: Jun 2, 2025, 9:50 AM IST
Nikitha Devi
Nikitha is a content creator with 6+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.
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