Vodafone Idea Reports Q4FY26 Results; Posts Rs 51,970 Crore Profit After AGR Relief

Indian equity benchmark indices traded lower on Monday, with the benchmark Nifty 50 index declining 0.72 per cent to 23,474.25 during the session. Weak sentiment across telecom stocks weighed on the broader markets. In this segment, shares of Vodafone Idea remained under pressure after the company announced its Q4FY26 financial results. On Monday, Vodafone Idea share price declined nearly 4 per cent to an Intraday low of Rs 12.47.

Vodafone Idea Returns To Profit In Q4FY26

Vodafone Idea reported consolidated revenue from operations of Rs 11,332 crore in Q4FY26 as against Rs 11,017 crore reported in Q4FY25, registering a growth of around 3 per cent YoY.

EBITDA stood at Rs 4,889 crore during the quarter compared to Rs 4,660 crore reported in the corresponding quarter previous year, reflecting a growth of around 5 per cent YoY.

The company reported a consolidated net profit of Rs 51,970 crore in Q4FY26 as against a loss of Rs 7,167 crore reported in Q4FY25.

However, Vodafone Idea stated that the reported profit was largely driven by a one-time AGR-related accounting gain. Before exceptional items, the telecom operator reported an operational loss of around Rs 5,515 crore during the quarter.

AGR Liability ReassesSMEnt

The Department of Telecommunications reduced Vodafone Idea’s adjusted gross revenue (AGR) dues to Rs 64,046 crore from Rs 87,695 crore as of December 31, 2025.

Following the reassessment, Vodafone Idea derecognised liabilities worth Rs 80,502 crore and recognised a revised liability of Rs 24,880 crore representing the present value of future AGR payments.

This resulted in a gain of Rs 55,622 crore being credited to the profit and loss statement during Q4FY26.

Operational Highlights

Average revenue per user (ARPU) increased 8.3 per cent YoY to Rs 190 from Rs 175 reported in Q4FY25, supported by tariff hikes and customer upgrades.

Vodafone Idea’s total subscriber base stood at 19.28 crore during the quarter, while its 4G and 5G subscriber base increased to 128.9 million from 126.4 million reported a year ago.

The company also stated that subscriber additions turned net positive from February 2026.

Network Expansion

During FY26, Vodafone Idea expanded its 5G services to 83 cities and increased 4G coverage by 48 million people, taking overall coverage to more than 86 per cent of India’s population.

The telecom operator added over 17,300 broadband towers during the year, taking total unique broadband towers to 2,02,008. The company also stated that 4G data capacity increased by over 12 per cent compared to FY25.

Capital expenditure for FY26 stood at Rs 8,742 crore, including Rs 2,294 crore during the March quarter.

Fund Raising Plan

Vodafone Idea’s Board approved raising Rs 4,730 crore through issuance of up to 430 crore fully convertible warrants to Suryaja Investments Pte. Ltd., a Singapore-based Aditya Birla Group promoter entity.

The warrants will be issued at Rs 11 each and converted into equity shares. The investor will pay 25 per cent of the amount at the time of subscription, while the remaining amount will be payable at the time of conversion.

As of March 31, 2026, Vodafone Idea’s deferred payment obligations stood at Rs 1,27,360 crore towards spectrum dues and Rs 25,254 crore towards AGR liabilities.

About Vodafone Idea

Vodafone Idea is one of India’s leading telecom service providers offering voice and data services across 2G, 4G and 5G networks. The company continues focusing on network expansion, infrastructure investments, customer upgrades and operational improvement initiatives across India.

Share your views on Vodafone Idea’s Q4FY26 performance in the comments below.
Disclaimer: This article is for informational purposes only and not investment advice.