Vodafone Idea Limited has announced its financial results for the quarter and financial year ended March 31, 2026. The company reported steady revenue growth of 2.9% YoY for the quarter, reaching Rs. 11,332 Cr, with an EBITDA of Rs. 4,889 Cr. Management highlighted a strong focus on 5G expansion across 17 priority circles, significant network infrastructure investments, and a positive shift in subscriber base addition starting from February 2026.
Quarterly Financial Performance
For the fourth quarter of FY26, Vodafone Idea recorded revenue from operations of Rs. 11,332 Cr, marking a 2.9% year-on-year growth. Sequentially, revenue grew by 2.3% on an equal-day basis. The company achieved an EBITDA of Rs. 4,889 Cr, representing a 4.9% year-on-year growth and an improved margin of 43.1%. For the full fiscal year 2026, total revenue reached Rs. 44,873 Cr, compared to Rs. 43,571 Cr in FY25, while annual EBITDA grew by 4.8% to Rs. 19,003 Cr.
Operational Milestones and Network Expansion
The company has made significant strides in its network capabilities, ending the quarter with 192.8 million subscribers, of which approximately 67% are 4G/5G users. During the year, the company added over 17,300 new unique broadband towers, bringing the total count to over 202,000. The rollout of 5G services has been expanded to over 80 cities across all 17 priority circles, which collectively contribute nearly 99% of the company’s revenue.
Consumer and Enterprise Offerings
Vodafone Idea continues to focus on premiumization, reporting a customer ARPU (excluding M2M) of Rs. 190, an 8.3% increase year-on-year. The digital ecosystem is bolstered by the Vi App, which has integrated diverse services including Vi Movies & TV, Vi Finance, and an AI-powered recharge assistant. On the enterprise front, Vi Business delivered strong results, particularly through BFSI-led acquisitions and the development of the ‘Dedicated Enterprise Corridor’, which includes a ~1.3 Tbps increase in network capacity.
Strategic Developments
During the quarter, the Department of Telecommunications (DoT) finalized the reassessment of Adjusted Gross Revenue (AGR) dues at Rs. 64,046 Cr for the period 2006-07 to 2018-19. As a result, the company recognized a revised financial liability of Rs. 24,880 Cr, reflecting the present value of future payments, leading to a significant accounting credit disclosed under ‘Exceptional Items’. Additionally, the company’s credit rating was upgraded to [ICRA] BBB (Positive) in March 2026, signaling strengthened financial health.
Source: BSE
