Vodafone Idea Q2 FY27 Results: Cash EBITDA Grows 11.2% To ₹2,498 Crore As ARPU Rises To ₹178 Per User

Vodafone Idea Limited reported revenue from operations of ₹11,884 crore in Q2 FY27, an increase of 6.2% from ₹11,195 crore in the corresponding quarter last year. The company's reported net loss stood at ₹5,975 crore, compared with ₹5,524 crore in Q2 FY26.

The loss adjusted for exceptional items was ₹5,513 crore, against ₹5,562 crore a year earlier. The company attributed the higher reported loss during the quarter to an adverse mark-to-market impact on its treasury assets.

The Vodafone Idea share price closed at ₹12.97 on 12 November, up 0.70% on the National Stock Exchange (NSE).

Vodafone Idea Q2 Results Snapshot

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 6.3% year on year to ₹4,981 crore. However, the EBITDA margin remained at 41.9%, unchanged from the year-ago quarter and lower than 43.1% in Q1 FY27.

Cash EBITDA, which excludes lease rentals, grew 11.2% to ₹2,498 crore. Its margin improved to 21% from 20.1% in Q2 FY26, although it was marginally below the 21.2% reported in the preceding quarter.

Operating expenditure increased to ₹6,903 crore from ₹6,510 crore a year earlier. Depreciation and amortisation expenses stood at ₹5,505 crore, while net interest and financing costs rose to ₹4,975 crore. These costs continued to weigh on the company's earnings.

The company spent ₹3,946 crore on capital expenditure during the quarter. It also placed orders worth more than ₹13,200 crore towards its three-year capital expenditure guidance, indicating the scale of network investment planned.

IRCTC H1 FY27 Highlights

For the six months ended September 2026, revenue from operations amounted to ₹23,573 crore. EBITDA for the same period was ₹10,015 crore, while cash EBITDA stood at ₹4,973 crore.

The company reported a cumulative net loss of ₹9,729 crore for H1 FY27. Its loss adjusted for exceptional items was ₹10,878 crore. The difference reflects the net benefit of exceptional items during the half year, including the impact of the exceptional charge recorded in Q2 and the larger exceptional gain recognised in Q1.

The company also reported cumulative operating expenditure of ₹13,558 crore and net interest and financing costs of ₹9,900 crore during the six months. These figures underline the continuing pressure from network operating costs, depreciation and financing obligations.

Vodafone Idea ended September 2026 with 194.4 million subscribers, compared with 193.1 million at the end of June. Its total subscriber base was still below the 196.7 million recorded a year earlier.

Blended ARPU improved to ₹178 from ₹177 in Q1 FY27 and ₹167 in Q2 FY26. Customer ARPU, which excludes machine-to-machine connections, reached ₹198, compared with ₹195 in the previous quarter and ₹180 a year earlier. The company attributed the annual improvement primarily to customer upgrades.

Source

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