IDEA · Telecommunication
Vodafone Idea Ltd. reported revenue of ₹11,195 cr for July to September 2025, +2.4% on the year and +1.6% on the quarter. It is the highest quarterly revenue in the last 10 quarters on record. Over the last four quarters revenue comes to ₹44,349 cr, +3.8% on the four before.
Operating profit (EBITDA) was ₹4,684 cr, a margin of 41.8%, +22 bps on the year and 0 bps on the quarter. Over the last 8 quarters the margin has ranged from 40.0% to 42.4%, averaging 41.5%. Operating costs grew +2.0%, broadly with revenue, so operating profit kept pace with sales.
The net loss was ₹5,524 cr, with earnings per share of −₹0.51.
Telecom is capital-heavy: depreciation and interest take a large share of operating profit, so the operating line matters more than net profit in any one quarter. The quarterly statements do not carry revenue per user, subscribers and capital spending; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Other income carrying profit, Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹10,716 cr | ₹10,673 cr | ₹10,607 cr | ₹10,508 cr | ₹10,932 cr | ₹11,117 cr | ₹11,015 cr | ₹11,022 cr | ₹11,195 cr | ₹11,323 cr | ₹11,332 cr | ₹11,689 cr |
| YoY | — | — | — | −1% | +2% | +4% | +4% | +5% | +2% | +2% | +3% | +6% |
| EBITDA margin | 40.0% | 40.7% | 40.9% | 40.0% | 41.6% | 42.4% | 42.3% | 41.8% | 41.8% | 42.5% | 43.1% | 43.1% |
| Other income, % of PBT | — | — | — | — | — | — | — | — | — | — | 111% | — |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | — | — | — | — | — | — | — | — | — | — | 0% | — |
| Net profit | −₹8,738 cr | −₹6,986 cr | −₹7,675 cr | −₹6,432 cr | −₹7,176 cr | −₹6,609 cr | −₹7,167 cr | −₹6,608 cr | −₹5,524 cr | −₹5,286 cr | ₹51,970 cr | −₹3,754 cr |
| YoY | — | — | — | — | — | — | — | — | — | — | — | — |
| Core profit YoY | — | — | — | — | — | — | — | — | — | — | — | — |
| EPS | −₹1.79 | −₹1.44 | −₹1.53 | −₹0.95 | −₹1.03 | −₹0.95 | −₹1.00 | −₹0.61 | −₹0.51 | −₹0.49 | ₹4.80 | −₹0.35 |
| Flags | · | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Vodafone Idea Ltd. reported revenue of ₹11,195 cr (+2.4% on the year) and net profit of −₹5,524 cr (— on the year) for July to September 2025.
None of the 5 checks that could run raised a question.
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