Indian telecom operator Vodafone Idea announced its financial result for Q4 fiscal 2021.

Key Highlights:

EBITDA for the quarter was Rs. 44.1 billion, with EBITDA margins at 45.9 percent vs 39.3 percent in Q3FY21.

EBITDA excluding IndAS 116 impact was Rs. 21.7 billion, compared to Rs. 21.1 billion in Q3FY21

For FY21, Revenue and EBITDA was Rs. 419.5 billion and Rs. 169.5 billion respectively

Reported Revenue declined by 11.8 percent QoQ to Rs. 96.1 billion, 9.6 percent on account of abolishment of domestic IUC effective from January 01, 2021

Capex spend in Q4FY21 was Rs. 15.4 billion vs Rs. 9.7 billion in Q3FY21.

Total capex spend for FY21 stands at Rs. 41.5 billion

Cost optimization underway with target to achieve Rs. 40 billion annualized opex savings by December 2021; achieved ~65 percent of targeted opex efficiency on run rate basis

Average Daily Revenue (ADR), adjusted for IUC impact was flat QoQ.

Continued network capacity expansion supported by spectrum refarming and network upgrade to 4G

Strong 4G net additions of 4.2 million taking 4G subscriber base to 113.9 million