NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Vodafone Idea Ltd.'s reported inline performance for the quarter. Both, sequential revenue growth and Ebitda margin were as per expectation. It reported sequential decline in revenue of 0.4% QoQ, however, average revenue per user increased by 2% QoQ to Rs 145/month; while, subscriber base declined by 4.6 million QoQ to 215.2 million.
Vodafone Idea 4G addition was better than expected for the quarter at 0.9 million QoQ. There was sequential improvement in Ebitda margin (up 80 basis points QoQ) led by decrease in roaming cost.
Net debt increased to Rs 2.15 trillion in Q3 FY24 versus Rs 2.13 trillion as of Q2 FY24.
We maintain our 'Sell' rating on the stock with target price of Rs 10/share based on enterprise value/Ebitda of 13.1 times on FY26E.
The stock trades at enterprise value/Ebitda of 14.7 times/13.8 times on FY25E/FY26E.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
