This is the second straight month of Vodafone Idea adding subscribers in a month, after the company continued to lose them for a period of five years at a stretch.
The focus will now be on the company’s fourth quarter results, which can act as the next important trigger for the stock.
During the December quarter, Vodafone Idea’s net loss narrowed sequentially, but that is due to an exceptional profit of ₹1,078 crore. The company’s Average Revenue Per User (ARPU) increased by 3% to ₹172.Any potential AGR relief will also be an important monitorable during the March quarter results, as the relief was granted to the company in January 2026.
At the end of the third quarter, Vodafone Idea’s cash balance stood at ₹6,960 crore, and a spectrum liability worth ₹1.24 lakh crore.
Obligations during the next 12 months include ₹1,126 crore towards banks and ₹7,001 crore through spectrum.’
22 analysts now have coverage on Vodafone Idea, of which 10 have a “sell” rating, while six analysts each have a “buy” and “hold” rating.
Shares of Vodafone Idea ended 0.4% lower on Wednesday at ₹9.51. The stock trades below its FPO price of ₹11, and is down 18% so far on a year-to-date basis.
