Financial Results Overview

Consolidated Financial Results (₹ Crore, except per share data)

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹11,884 (6.2% YoY growth from ₹11,195 in Q2FY26)
  • Total Income: ₹12,260
  • Total Expenses: ₹17,759
  • Loss Before Tax: ₹(5,961)
  • Loss After Tax: ₹(5,975)
  • Total Comprehensive Loss: ₹(5,979)
  • Basic EPS: ₹(0.55)
  • Diluted EPS: ₹(0.55)

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹23,573
  • Total Income: ₹24,144
  • Total Expenses: ₹35,001
  • Loss Before Tax: ₹(9,708)
  • Loss After Tax: ₹(9,729)
  • Total Comprehensive Loss: ₹(9,730)
  • Basic EPS: ₹(0.90)
  • Diluted EPS: ₹(0.90)

Standalone Financial Results (₹ Crore, except per share data)

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹11,715
  • Total Income: ₹12,095
  • Total Expenses: ₹17,578
  • Loss Before Tax: ₹(5,945)
  • Loss After Tax: ₹(5,945)
  • Total Comprehensive Loss: ₹(5,949)
  • Basic EPS: ₹(0.55)
  • Diluted EPS: ₹(0.55)

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹23,254
  • Total Income: ₹23,832
  • Total Expenses: ₹34,638
  • Loss Before Tax: ₹(9,657)
  • Loss After Tax: ₹(9,657)
  • Total Comprehensive Loss: ₹(9,658)
  • Basic EPS: ₹(0.89)
  • Diluted EPS: ₹(0.89)

Exceptional Items

Consolidated:

  • Q2FY27: Net exceptional loss of ₹462 crore primarily due to:
  • Loss of ₹462 crore on remeasurement of Settlement assets (earmarked promoter shares)
  • Q1FY27: Net exceptional gain of ₹1,611 crore
  • H1FY27: Net exceptional gain of ₹1,149 crore

Standalone:

  • Q2FY27: Net exceptional loss of ₹462 crore
  • H1FY27: Net exceptional gain of ₹1,149 crore

Key Financial Position Details (Consolidated)

As of September 30, 2026:

  • Paid-up Equity Share Capital: ₹108,343 crore (Face value ₹10 per share)
  • Other Equity: Negative ₹152,641 crore
  • Total Equity: Negative ₹44,298 crore
  • Total Assets: ₹197,409 crore
  • Total Liabilities: ₹241,707 crore

Debt and Obligations:

  • Outstanding debt from banks, NCDs and others: ₹4,543 crore (including interest accrued but not due)
  • Instalments payable by September 2027: ₹3,108 crore plus interest
  • Deferred payment obligation towards Spectrum: ₹131,268 crore (including interest accrued but not due)
  • Deferred payment obligation towards AGR: ₹26,264 crore (including interest accrued but not due)
  • Instalments payable against deferred payment obligations by September 2027: ₹9,216 crore

Cash Flow Statement (Consolidated)

H1 FY27:

  • Net cash flows from operating activities: ₹11,554 crore
  • Net cash flows used in investing activities: ₹(4,462) crore
  • Net cash flows used in financing activities: ₹(5,231) crore
  • Net increase in cash and cash equivalents: ₹1,861 crore
  • Cash and cash equivalents at period end: ₹3,967 crore

Operational Highlights from Media Release

Subscriber Metrics:

  • Total subscriber base: 194.4 million (vs 193.1 million in Q1FY27)
  • Postpaid subscribers: 33.9 million (vs 31.9 million in Q1FY27)
  • 4G/5G subscribers: 131.0 million (vs 127.8 million in Q2FY26)
  • Customer ARPU: ₹198 (9.7% YoY growth from ₹180 in Q2FY26)
  • Data usage: 93.6 PB/day (27.1% YoY growth from 73.6 PB/day)

Network Expansion:

  • Total unique broadband towers: 213,616 (added 9,000 towers in Q2, highest in nine quarters)
  • 4G population coverage: 88% (extended to additional 45 million people since Q2FY26)
  • 5G coverage: Expanded to 400 cities across 17 key circles

Financial Metrics:

  • Capex for Q2: ₹3,946 crore (104.5% sequential growth)
  • Cash EBITDA (pre-IndAS 116): ₹2,498 crore (11.2% YoY growth)
  • Reported EBITDA: ₹4,981 crore (6.3% YoY growth)
  • Bank debt: ₹943 crore
  • Cash and bank balance: ₹5,470 crore

Funding and Capital Activities

  • Secured total funding of over ₹10,500 crore till H1FY27 including warrants, fund & non-fund based facilities
  • Over ₹4,000 crore of incremental bank funding arranged in Q2FY27
  • Capex orders worth over ₹13,200 crore placed towards three-year capex guidance
  • Proceeds from issue of convertible share warrants: ₹1,182 crore (net of issue expense of ₹1 crore)

Going Concern Assessment

The Company states it has met all debt obligations to lenders/banks and financial institutions with applicable interest. Management is confident of generating sufficient cash flow from operations to meet obligations including spectrum, NCD and other dues payable over the next 12 months. The financial results have been prepared on a going concern basis.

Subsidiaries and Associates

Subsidiaries (9 entities): Vodafone Idea Manpower Services Limited, Vodafone Idea Business Services Limited, Vodafone Idea Communication Systems Limited, Vodafone Idea Next-Gen Solutions Limited, Vodafone Idea Shared Services Limited, You Broadband India Limited, Vodafone Idea Technology Solutions Limited, Vodafone Idea Telecom Infrastructure Limited, Vodafone Foundation

Associates (3 entities): Sangli Wind Energy Private Limited (acquired May 16, 2025), Aditya Birla Renewables SPV 3 Limited (acquired October 23, 2025), MTK Quantum Green Energy Pvt. Ltd. (acquired June 29, 2026)

Segment Information

The Group operates only in one reportable segment - Mobility Services.