Vodafone Idea will make significant investments in the upcoming quarters for the rollout of its 5G network as well as expanding its existing 4G coverage, Aditya Birla Group chairman Kumar Mangalam Birla said at the India Mobile Congress 2023 in New Delhi.
Birla did not share any specific timeline as to when Vodafone Idea will roll out its 5G network. In an interview with CNBC-TV18 in October last year, Birla said that the telecom operator would roll out its 5G network "soon", a comment reiterated in April this year.
"Over the past years, the Voda Idea team has worked to develop a core network for 5G deployment. Vodafone Idea will initiate substantial investments for 5G rollouts," Birla said at the event.
Vodafone Idea lost over 1.3 million subscribers in July as per the latest data released by the Telecom Regulatory Authority of India (TRAI). The company had lost 3 million subscribers in April and May as well.
Outgoing Chairman of TRAI, PD Vaghela, told CNBC-TV18 that the body is worried about Vodafone losing subscribers, which is a potential result of the telecom not being able to roll out 5G like its other counterparts.
In comparison, peers like Reliance Jio and Bharti Airtel have completed their 5G deployment across major parts of India.
For the most recent quarter, Vodafone Idea's net loss expanded to ₹8,737.9 crore, which was higher than expected due to higher-than-expected tax.
The company had created a tax provision of ₹822 crore after the recent judgement of the Supreme Court to treat license fees paid to the Department of Telecom since July 1999 as capex and not revenue expenditure.
Average revenue per user (ARPU) stood at ₹142, a growth of 2% from the June quarter.
Shares of Vodafone Idea are trading unchanged at ₹10.75.
Follow the latest updates on India Mobile Congress 2023 here.
(Edited by : Amrita)
First Published: Oct 27, 2023 11:17 AM IST
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