Vodafone Idea Q4 Review - Revenues Benefit From Tariff Hikes: ICICI Securities

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Vodafone Idea Ltd.’s Q4 FY22 cash Ebitda at Rs 21.2 billion was higher than our estimate due to a one-off gain, while revenues came in-line. Average revenue per user rose 7.8% QoQ to Rs 124 and Vodafone Idea said most part of tariff hikes taken in November 2021 is captured in the revenues. Future ARPU growth will depend on 4G net sub-add, monetisation of digital properties and more tariff hikes. Annualised Ebitda (excluding the one-off) is Rs 79 billion, which is short of the requirement to meet cash liabilities.Vodafone Idea has Rs 60 billion bank debt repayment and capex in FY23. Further, 5G auctions are expected in the next quarter, which may require some cash to be paid upfront (though Telecom Regulatory Authority of India has recommended total payment in EMIs). .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Vodafone Idea Q4 Review - Revenues Benefit From Tariff Hikes: ICICI Securities

Vodafone Idea Q4 Review - Revenues Benefit From Tariff Hikes: ICICI Securities

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