Vodafone Idea (Vi) reported revenue of Rs 111.9 billion for the second quarter ended September 30, 2025, marking a 2.4 percent year-on-year increase. The Indian telecom operator’s performance was supported by higher ARPU, growth in postpaid customers, and continued 4G and 5G network expansion.
EBITDA stood at Rs 46.9 billion with an EBITDA margin of 41.9 percent, while cash EBITDA was Rs 22.5 billion compared to Rs 23.2 billion a year ago. The company reported a net loss of Rs 55.2 billion, an improvement from Rs 71.8 billion in the same period last year.
Subscribers
Vodafone Idea’s total subscriber base stood at 196.7 million at the end of September 2025, including 127.8 million 4G and 5G users. Around 65 percent of its customers are now mobile broadband users. Postpaid subscribers of Vodafone Idea increased to 27.9 million, reflecting steady growth in the premium segment. The company’s average revenue per user (ARPU) rose to Rs 167, up 8.7 percent year-on-year, driven by tariff upgrades and improved user engagement. Customer ARPU (excluding M2M) reached Rs 180.
Capex
During the quarter, Vodafone Idea expanded its high-speed broadband and 5G network. The company added over 1,500 new 4G towers and upgraded over 3,600 sites across 1800 MHz and 2100 MHz bands. Total broadband sites rose to around 527,000, and 4G population coverage increased to more than 84 percent. Vi’s 5G services are now available in 29 cities across 17 priority circles, covering about 99 percent of its revenue base.
Vodafone Idea’s capital expenditure for the quarter was Rs 17.5 billion, and Rs 42 billion for the first half of FY26. The company reported bank debt of Rs 15.3 billion and a cash balance of Rs 30.8 billion as of September 30, 2025.
The company expanded its digital services portfolio with the launch of Vi Finance on the Vi App, offering personal loans, fixed deposits, and credit cards through partnerships with Aditya Birla Capital and InstaMoney. The app now serves as a multi-service platform that includes Vi Games, Vi Shop, bill payments, and metro ticket booking.
On the enterprise front, Vi Business launched India’s first telco-backed IoT Innovation Lab in partnership with AWS and C-DOT, supporting co-creation and certification of IoT devices and applications. The company also showcased AI-powered Managed Wi-Fi, SD-WAN, and Security Operations Centre solutions to support enterprise digital transformation. It aims to deploy 12 million smart metering solutions in the next three years to drive IoT-based growth.
Vodafone Idea continues to focus on improving customer experience with new initiatives like Vi Protect, an AI-based network security suite, and the REDX Family Plan, which extends premium postpaid benefits to multiple family members.
The company said it welcomed the Supreme Court’s recent order permitting the Government of India to reassess adjusted gross revenue (AGR) dues up to FY2016-17 and is engaging with the Department of Telecommunications for next steps.
Baburajan Kizhakedath