ITV

Tag: Ravinder Takkar

  • Vodafone Idea records revenue growth of 2.8 per cent QoQ in Q2 FY2022

    Vodafone Idea records revenue growth of 2.8 per cent QoQ in Q2 FY2022

    Mumbai: Vodafone Idea recorded revenue growth of 2.8 per cent quarter-on-quarter (QoQ) in Q2 FY2022. The telecom company reported revenues of Rs 94.1 billion for the quarter.

    EBIDTA for the quarter improved to Rs 38.6 billion up by 4.6 per cent QoQ. EBITDA margins improved to 41.1 per cent over 40.5 per cent on a year-on-year basis. Capex spends for the quarter was Rs 13 billion.

    Vodafone Idea’s subscriber base stands at 253 million, a decline of 2.4 million YoY. The company saw a healthy addition of 3.3 million subscribers to its 4G base which stands at 116.2 million. The company reported improved subscriber churn at 2.9 per cent vs 3.5 per cent last year for the corresponding quarter.

    The company reported improved ARPUs of Rs 109 up by 5.3 per cent QoQ. “This quarter we had taken certain pricing initiatives to improve ARPU, in line with our stated strategy. We increased the entry level prepaid pricing plan from Rs. 49 to Rs. 79, in a phased manner, as well as increased the tariffs in some postpaid plans,” said the statement.

    The company’s total gross debt (excluding lease liabilities and including interest accrued but not due) stands at Rs. 1947.8 billion, comprising of deferred spectrum payment obligations of Rs. 1086.1 billion, AGR liability of Rs. 634.0 billion that is due to the government and debt from banks and financial institutions of Rs. 227.7 billion.

    “We welcome the Government’s landmark reform package which addresses several industry concerns and provides immediate relief to the financial stress in the sector,” said Vodafone Idea chief executive officer Ravinder Takkar. “During the last quarter, we witnessed a recovery in our operating momentum as the economy has started to gradually open up aided by the ongoing rapid vaccination drive. We continue to focus on executing our strategy to improve our competitive position and win in the marketplace.”

  • Vodafone Idea loses 12.3 million subscribers in Q1 FY22

    Vodafone Idea loses 12.3 million subscribers in Q1 FY22

    Mumbai: Vodafone Idea Ltd (VIL) revenue has been declined by 4.7 per cent quarter on quarter (QoQ) to Rs 91.5 billion at the end of the first quarter FY22. EBITDA for the quarter was Rs 37.1 billion, with EBITDA margins at 40.5 per cent vs 45.9 per cent in Q4 FY21. The CapEx spend for the quarter was Rs 9.4 billion vs Rs 15.4 billion in the previous quarter.

    The telecom company reported total gross debt (excluding lease liabilities and including interest accrued but not due) of Rs 1915.9 billion, as of 30 June. This includes deferred spectrum payment obligations of Rs 1060.1 billion and AGR liability of Rs 621.8 billion that are due to the government and debt from banks and financial institutions of Rs 234 billion. Cash and cash equivalents were Rs 9.2 billion and net debt stood at Rs 1906.7 billion.

    The company said its broadband site count stood at 447,114, lower compared to 452,650 in Q4 FY21 as it continues to actively shut down 3G sites. “Our 4G network covers over one billion Indians as of 30 June,” it added.

    The subscriber base has declined by 12.3 million and stands at 255.4 in this quarter vs 267.8 million in the previous quarter. The telco’s 4G base declined to 112.9 million vs 113.9 million in the previous quarter. The subscriber churn was 3.5 per cent in Q1 FY22 vs 3.0 in Q4 FY21. ARPU declined to Rs 104 vs Rs 107 in the previous quarter. The data volumes witnessed strong growth of 13.2 per cent quarter on quarter. Data usage per broadband subscriber surged to 14.6 GB/month vs 12.8 GB/month in the previous quarter.

    “The severe second wave of COVID-19 caused significant disruptions and slowdown in economic activities,” said VIL managing director and chief executive officer, Ravinder Takkar. “During these challenging times, VIL continued to serve its customers and community at large by providing seamless connectivity as well as maintaining superior quality of services.”

    “Vi GIGAnet’s superior network experience on both data and voice, is testified through top rankings in independent external reports. We continue to focus on executing our strategy to keep our customers ahead, and our cost optimisation plan remains on track to deliver the targeted savings. We are in active discussion with potential investors for fundraising, to achieve our strategic intent,” Takkar added.

  • Vodafone Idea CEO Balesh Sharma resigns, Ravinder Takkar to take over

    Vodafone Idea CEO Balesh Sharma resigns, Ravinder Takkar to take over

     The Board of Vodafone Idea Limited today announced that it has accepted Balesh Sharma’s request for personal reasons to step down as CEO of Vodafone Idea. Balesh will be taking up a new role with Vodafone Group, which will be announced in due course. Ravinder Takkar, currently Vodafone Group’s representative in India, will be appointed as his successor with immediate effect.

    Balesh has been the CEO of Vodafone Idea since the completion of the merger, and prior to that was Chief Operating Officer of Vodafone India. He has overseen the successful integration of Vodafone Idea – resulting in the estimated timescale to complete the integration falling from four to just two years. Balesh has driven the strategy of the combined business since its formation and he has also spearheaded the largest-ever equity raise in India.

    Ravinder Takkar, an experienced global executive, is currently a Board member of Vodafone Idea and Indus Towers, where he is responsible for all Vodafone Group interests in India, a role which he took on in 2017. Prior to his current role, Ravinder was the CEO of Vodafone Romania for three years and CEO of Vodafone Partner Markets in London. He has been with Vodafone Group since 1994 and brings a wealth of experience in telecom industry having worked in several leadership positions across Vodafone’s operating companies over the last 25 years.

    Ravinder has been involved in the Indian telecom industry since 2007 when Vodafone Group entered the Indian market. He has held a number of senior roles in Strategy and Business Development and he was CEO of the Enterprise business.

    Mr. Kumar Mangalam Birla, Chairman Aditya Birla Group and Vodafone Idea Limited, said, “I would like to thank Balesh for his leadership and the successful integration of the two businesses. Under Balesh's stewardship, Vodafone Idea has realised a significant proportion of the synergies in a much shorter timescale than originally estimated. I wish him every success in his next role. I am pleased to welcome Ravinder Takkar as our new MD & CEO. Ravinder is well versed with the Vodafone Idea business context and I am confident that he will successfully steer the company through the next phase of development and help unlock its full potential.”