The cash-strapped telecom company Vodafone Idea’s consolidated net loss narrowed down during the second quarter of the financial year 2021-22 (Q2FY22). It came at Rs 7132.3 crore as compared to a net loss of 7319.1 crore in the previous quarter of FY22. 

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Similarly, the telecom firm’s consolidated revenue grew marginally by around 3 per cent to Rs 9406.4 crore as against 9152.3 crore quarter-on-quarter. Similarly, the consolidated EBITDA grew over 4 per cent QoQ to 3863 crore and margins jumped 41.1 per cent sequentially.  

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The company in its results statement said, the growth in revenue aided by pick up in the economic activities and easing of lockdown/restrictions induced by severe second wave of COVID, which impacted during the first quarter of the current fiscal.

Similarly, the growth of the operating profit was aided by improvement in revenue which was partially offset by increase in customer acquisition costs due to higher gross additions during the quarter and other inflationary cost increases, the company said in its results statement.

“We continue to invest in 4G to increase our coverage and capacity. During the quarter, we added ~10,800 4G FDD sites primarily through reframing of 2G/3G spectrum (shutdown ~9,600 3G sites) to expand our 4G coverage and capacity,” Vodafone Idea said in results statement.

The company’s overall broadband site count stood at 450,481 in Q2FY22, compared to 447,114 in Q1FY22. Till date, it has deployed over 65,000 TDD sites in addition to the deployment of 13,850 Massive MIMO sites and around 13,000 small cells.

The shares of Vodafone Idea closed over 4.5 per cent to Rs 10.34 per share on the BSE, as compared to 1.28 per cent rise in the S&P BSE Sensex at the close.