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Vodafone Idea continues to be on lookout for investors as revenues, profits sag

In its earnings call, the telco discussed issues related to subscriber decline, fundraising, liabilities, and a review petition filed by Vi in the AGR dues case before the Supreme Court of India.  Key Highlights "On fund raising, the company is currently in active discussion with potential investors," Vodafone Idea said in its press release for earnings this quarter, indicating it still doesn't have concrete pathways to funding to pull it back from financial precarity. Data usage among 4G users stood at 14.6GB per user per month in the Q1FY22 quarter, compared to 12.8GB per month in the previous quarter. Strapped for cash, the telco is seeking to achieve annualised savings of Rs 4,000 crore in cost-saving measures. Revenue dipped 4.7% QoQ to Rs 9,150 crore, with the company blaming the COVID-19 lockdown and restrictions thereof. Net loss widened to Rs 7,319 crore. Vodafone Idea continues to post dismal numbers as it faces an existential risk. Rumours swirled after the company released its results that it had defaulted on license fee dues; a spokesperson denied this, saying that the fees had been paid. The company's precarious financial situation has led even competitor Airtel to worry about the telecom market's competitiveness, and led to the three private players to jointly ask the government for financial relief. Without a significant change in the market, whether it is tax relief or investment in the troubled telco, the market may be at the brink of becoming a two-player industry. Notes from earnings call Subscriber decline…

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