Vodafone Idea (Vi) announced its Q3FY26 results, highlighting improved operational performance. Customer ARPU (ex M2M) grew to Rs. 186, a 7.3% YoY increase. The company finalized the settlement of CLAM receivable of Rs. 6,394 Crore with the Vodafone Group and raised Rs. 3,300 Cr via NCDs. Vi’s AGR liability is frozen at Rs. 87,695 Cr as of December 31, 2025.
Financial Performance
Vi’s revenue for Q3FY26 stood at Rs. 11,323 Cr, representing a 1.9% YoY growth. Cash EBITDA for the quarter (pre-Ind AS 116) was Rs. 2,358 Cr, showing a sequential growth of 5.0%.
Key Operational Metrics
The 4G/5G subscriber base reached 128.5 million. Average data usage by 4G/5G subscribers reached 19.2 GB/day, a 26.7% YoY increase. Vi expanded its 4G coverage to cover 85.5% of the population, increasing 4G data capacity by 43%+ and improving speeds by ~22%.
Debt and Liabilities
As of December 31, 2025, debt from banks stood at Rs. 1,126 Cr. The company raised Rs. 3,300 Cr through NCDs during the quarter, increasing the cash and bank balance to Rs. 6,963 Cr. Vi’s AGR liability is frozen at Rs. 87,695 Cr as of December 31, 2025 and is subject to reassessment.
Other Key Developments
Vodafone Group is supporting the closure of CLAM receivable of Rs. 6,394 Cr and the AGR payment is no longer a pre-condition to receive this money. An amount of ~Rs. 2,300 Cr will be received over the next 12 months from proceeds of sale of 328 Cr shares earmarked in favour of the Company.
Source: BSE
