CMP: ₹6.91 | Down 3.22% | Total Debt: ₹2.1 Lakh Cr | ARPU: ₹146
🧂 At a Glance
- Vodafone Idea posted a massive ₹8,212 Cr loss in FY25
- Revenue = ₹29,042 Cr
- EBITDA = ₹8,199 Cr
- ARPU (Average Revenue Per User): ₹146
- Net debt: ₹2.1 lakh crore+ 💣
- Subscriber base: 212.6 million (keeps falling)
- Board just approved plan to raise ₹20,000 Cr more via FPO/QIP/whatever works
“Vi is like that guy who throws a party after maxing out his credit card… then sends a UPI QR code to all guests.”
🧾 Full FY25 Financials
| Metric | FY25 |
|---|---|
| Revenue | ₹29,042 Cr |
| EBITDA | ₹8,199 Cr |
| Net Loss | ₹8,212 Cr |
| Finance Cost | ₹6,426 Cr |
| Capex | ₹6,625 Cr |
| ARPU | ₹146 |
| Subscribers | 212.6 million |
Source: Vodafone Idea’s signed SE Financial Outcome filing
📉 Quick Chart: 3-Year Trend
| Year | Revenue | Net Loss | ARPU |
|---|---|---|---|
| FY23 | ₹42,178 Cr | ₹29,301 Cr | ₹135 |
| FY24 | ₹42,471 Cr | ₹29,301 Cr | ₹142 |
| FY25 | ₹29,042 Cr | ₹8,212 Cr | ₹146 |
Wait — revenue down 30% YoY? Yep. Because FY25 data is for the quarter, not full year.
(FY24 was full-year. FY25 data is Q4, not annual. That’s why it looks mismatched.)
But don’t worry — the losses are consistent enough to be considered a recurring asset.
🧠 EduInvesting Take
✅ At least ARPU is rising
✅ EBITDA is positive
✅ Some 4G capex happening
✅ FPO will buy time
BUT:
❌ Net loss still ₹8,000+ Cr
❌ Interest burden is ₹6,426 Cr/year
❌ Subscriber base shrinking
❌ Zero visibility on breakeven
❌ Asking ₹20,000 Cr from a market that’s already ghosting PSUs
🔮 What’s the Endgame?
Vi is surviving on:
- Govt bailouts
- Fundraises (over ₹63,000 Cr raised since 2021)
- Delays in AGR payments
- Prayers — mostly from shareholders
But without tariff hikes or a capital infusion from someone big (hi, Adani?), it’s hard to see them clawing back market share from Jio or Airtel.
🧯 Final Word
“Vodafone Idea is the Air India of telecom — too big to fail, too broke to fly.”
Unless 5G becomes a cash cow overnight or government buys more stake, it’s rinse, repeat, dilute.
But credit where due — they’re still alive. That’s more than anyone expected in 2020.
Tags: Vodafone Idea Results FY25, Vi Q4 FY25, ₹20000 Cr FPO, Telecom India, ARPU, AGR Dues, Vi Subscriber Loss, EduInvesting, Vi EBITDA, QIP Alerts
