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Vodafone Idea Narrows Q1 Loss as Capital and Policy Risks Persist

Slightly narrower loss alongside modest ARPU growth highlights operational progress despite looming funding gaps tied to AGR dues

Overview

  • The company’s consolidated net loss narrowed to ₹6,608.1 crore in Q1FY26 from ₹7,166.1 crore in the previous quarter.
  • Revenue was flat at ₹11,023 crore, with average revenue per user climbing 1.1% to ₹177.
  • EBITDA declined 1% to ₹4,612 crore, pushing the margin down to 41.8%.
  • Shares fell 3.3% to ₹6.15 on the NSE following the results, extending a 61% year-on-year drop amid mixed analyst ratings.
  • Vodafone Idea is counting on a board-approved ₹20,000 crore capital raise and government AGR relief to shore up its balance sheet.