Date: 10 August 2026
Financial Results (Standalone & Consolidated)
Revenue from Operations for Q1 FY27 stood at ₹11,689 crore, showing a 6.0% year-over-year (YoY) growth from Q1 FY26 (₹11,023 crore) and a 3.2% quarter-over-quarter (QoQ) growth from Q4 FY26 (₹11,332 crore).
Operating expenses (Opex) were ₹6,655 crore for Q1 FY27, compared to ₹6,410 crore in Q1 FY26 and ₹6,443 crore in Q4 FY26.
EBITDA for the quarter was ₹5,034 crore, representing a 9.1% YoY growth from Q1 FY26 (₹4,612 crore). EBITDA Margin remained stable at 43.1% compared to Q4 FY26.
Depreciation & Amortisation expenses were ₹5,467 crore for Q1 FY27. Net Interest and Financing Cost was ₹4,925 crore.
Profit Before Tax (PBT) showed a loss of ₹(3,747) crore for Q1 FY27, compared to a loss of ₹(6,611) crore in Q1 FY26 and a profit of ₹51,976 crore in Q4 FY26 (which included an exceptional item of ₹57,491 crore).
Profit After Tax (PAT) was a loss of ₹(3,754) crore for Q1 FY27, compared to a loss of ₹(6,608) crore in Q1 FY26 and a profit of ₹51,970 crore in Q4 FY26.
Cash EBITDA (pre-IndAS 116) was ₹2,475 crore with a Cash EBITDA Margin of 21.2%.
Capex for the quarter stood at ₹1,930 crore.
Balance Sheet Highlights
As of June 30, 2026, total assets stood at ₹197,253 crore compared to ₹191,638 crore as of March 31, 2026.
Cash and cash equivalents were ₹3,580 crore. Bank balance other than cash and cash equivalents was ₹4,034 crore. Total cash and bank balance stood at ₹6,558 crore.
Current investments were ₹416 crore.
Total equity showed a negative balance of ₹(38,327) crore, compared to ₹(35,758) crore as of March 31, 2026.
Debt from banks stood at ₹211 crore. Total debt (including lease liabilities and deferred payment obligations) was not explicitly summarized but components include:
- Long term borrowings from banks and others: ₹3,278 crore
- Deferred payment obligations: ₹147,624 crore
- Lease liabilities: ₹40,143 crore (non-current) + ₹6,965 crore (current)
- Short term borrowings: ₹3,192 crore
Operational Highlights
Subscriber base stood at 193.1 million as of June 30, 2026, showing net addition from 192.8 million in Q4 FY26 - the first quarter of net subscriber addition since merger.
4G/5G subscribers reached 130.1 million, up from 127.4 million in Q1 FY26.
Postpaid subscribers increased to 31.9 million from 26.6 million in Q1 FY26.
Average Revenue Per User (ARPU) Blended increased to ₹177 from ₹165 in Q1 FY26.
Customer ARPU (excluding M2M) increased to ₹195 from ₹177 in Q1 FY26, a 10.2% YoY increase.
Blended churn reduced to 3.8% from 4.1% in Q1 FY26.
4G population coverage increased to 87.0% from 84.1% in Q1 FY26, covering 429,730 census towns and villages.
2G population coverage remained stable at 91.3%, covering 487,173 census towns and villages.
Total unique towers stood at 209,269, with 204,893 being broadband towers.
Total broadband sites reached 580,883.
Data usage increased to 88.4 Pb/day from 69.1 Pb/day in Q1 FY26, a 27.9% YoY increase.
Average data usage by 4G/5G subscriber increased to 21.7 GB from 17.3 GB in Q1 FY26.
Funding and Ratings Update
The company secured funding of ₹6,400 crore including warrants, fund & non-fund based facilities.
Crisil assigned a credit rating of Crisil A-/(Stable) in May 2026.
ICRA upgraded its rating to ICRA A-/(Stable) in June 2026.
The company has placed capex orders worth ₹9,000 crore out of its 3-year capex guidance of ₹45,000 crore.
Business and Strategic Updates
5G coverage expanded to over 200 cities across 17 key circles where the company holds 5G spectrum.
The company added over 15,600 new unique broadband towers during the last twelve months.
Partnerships launched during the quarter:
- Partnership with Meta for silent mobile verification across WhatsApp, Facebook and Instagram
- Partnership with Spotify to offer Vi Max postpaid subscribers complimentary Spotify Premium subscription
- Launched 'Vi edu+' in partnership with PhysicsWallah for prepaid subscribers in Uttar Pradesh and Rajasthan
- Strengthened partnership with HPE Juniper Networking for AI-powered enterprise networking solutions
- Memorandum of Understanding with Andhra Pradesh MSME development Corporation to digitally empower MSMEs
Launched 'Choose Your Own Plan' for International Roaming, offering flexible validity and data options.
Unveiled MSME ReadyForNext 5.0, India's largest digital advisory platform for MSMEs.
Shareholding Pattern
Promoter and Promoter Group holding:
- Aditya Birla Group: 9.57% (10,367,033,322 shares)
- Vodafone Group: 16.07% (17,414,045,221 shares)
- Total Promoter Holding: 25.64% (27,781,078,543 shares)
Government of India holding: 49.00% (53,083,184,899 shares)
Public Shareholding:
- Institutional Holding: 12.23% (13,258,428,617 shares)
- Non-Institutional Holding: 13.13% (14,220,342,942 shares)
Total shares outstanding: 108,343.0 million
Stock Market Information
Closing Market Price (NSE) as of June 30, 2026: ₹14.5 per share
Market Capitalization: ₹156,664 crore
Enterprise Value: ₹348,562 crore
Combined daily volume (NSE & BSE): 735.3 million shares
Combined daily value (NSE & BSE): ₹920 crore