August06, 2020
Highlights for the Quarter๏ทOffered uninterrupted services to both retail and enterprise customers, despite operational headwindsduring these unprecedented times,
๏ทRevenue for the quarter declined by 9.3%toRs. 106.6 billion, impacted by the nationwide lockdown
๏ทStrong data volume growth of 10.6%, highestin the last 6 quarters; Data usageperbroadbandsubscriber increased to 13 GBpermonth
๏ทSignificant network capacity expansion post integration, supporting the surgein data volumes
๏ทFastest 4G download speedsin the metros โDelhiandMumbai,along withWest Bengal, Uttar Pradesh,Madhya Pradesh,and Assamin Q1FY21
๏ทNew cost optimization initiativesto drive further organizational efficiency; target to achieve Rs. 40 billion annualized opex savingsover next 18 months
๏ทAGRupdate:in line with the Honโble Supreme Courtโs order,recorded liability in financials as per DoTโs preliminary assessments filed in the Supreme Court
Ravinder Takkar, MD & CEO,Vodafone Idea Limited, said โDuringthe nationwide lockdown due to COVID-19 pandemic,our teams did a phenomenal job of providing seamless high quality services, keeping people and businesses connected during these unprecedented times. Q1FY21 was a challenging quarter as availability of rechargesdue to store closure and ability of customers to recharge on account of economic slowdown were impacted.4G coverage and capacity expansion remains a priority for us to further improve our customersโexperience and we continue to lead the league tables on 4G data download speeds across several states, metros and large cities. We continued to make progress on our strategy with integration largely complete, enabling us to realisecostsynergies well ahead of our initial targets.We have launched a new cost optimization initiative thatwill drive further cost savings.We also continue to actively engagewith the government seeking a comprehensive relief package for the industry, which faces critical challenges.โ
