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Losses Continue To Widen, Subscriber Base Further Decrease, Although 4G Customers are Increasing | Q2 FY23 Result& Conference Call Highlights

Losses Continue To Widen, Subscriber Base Further Decrease, Although 4G Customers are Increasing | Q2 FY23 Result& Conference Call Highlights

Published on 04 November 2022 .Views 6 .Comments 0
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  • Revenue for the quarter stands at Rs. 10,610 Cr, a QoQ improvement of 2.0%. On a YoY basis, revenue growth was at 12.8%.
  • EBITDA for the quarter was Rs. 4,100 Cr.
  • Losses continue to widen to Rs 7,592.5 Cr from Rs 7,295.7 Cr in Q1FY23.
  • Depreciation & Amortisation expenses and Finance costs (Net) for the quarter are Rs. 5660 Cr and Rs. 6030 Cr respectively.
  • The total gross debt (excluding lease liabilities and including interest accrued but not due) as of September 30, 2022 stands at Rs. 2,20,320 Cr, comprising of deferred spectrum payment obligations of Rs. 1,36,650 Cr (including Rs. 17260 Cr towards spectrum acquired in recent spectrum auction) and AGR liability of Rs. 68,590 Cr that are due to the Government, and debt from banks and financial institutions of Rs. 15080 Cr.
  • Cash & cash equivalents were Rs. 190 Cr with that net debt stood at Rs. 2,20,130 Cr.
  • Company has shut down ~19,000 3G sites during the quarter while we added ~8,500 4G sites. Overall broadband site count stood at 444,228 as of September 30, 2022.
  • ARPU improved to Rs. 131, up 2.0% QoQ vs Rs. 128 in Q1FY23.
  • On a YoY basis, ARPU witnessed strong growth of 19.5% aided by tariff hikes and migration of subscribers to unlimited plans.
  • The subscriber base declined to 23.44 Cr vs 24.4 Cr in Q1FY23. However, the 4G subscriber base continued to grow and with 15 lakh 4G customers added in Q2, 4G subscriber base now stands at 12.06 Cr.
  • Blended subscriber churn for the quarter was higher at 4.3% vs 3.5% in Q1FY23.
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