Vodafone Idea shares surged over 6% on Tuesday after the telecom operator reported a narrower loss for the September quarter, supported by a one-time interest expense reversal. The stock climbed 6.2% to ₹10.10 on the BSE.
For Q2 FY26, Vodafone Idea posted a consolidated net loss of ₹5,524.2 crore, compared with ₹7,175.9 crore a year ago and ₹6,608.1 crore in the previous quarter. Revenue from operations rose 2.4% year-on-year to ₹11,194.7 crore and 1.5% sequentially, driven by an increase in average revenue per user (ARPU). The company’s total subscriber base reached 196.7 million, with 127.8 million 4G/5G users, up from 125.9 million last year.
EBITDA stood at ₹4,690 crore, while cash EBITDA (excluding Ind AS 116) came in at ₹2,250 crore versus ₹2,320 crore in Q2 FY25. Gross debt was ₹2.03 lakh crore, mainly from spectrum and AGR dues, with bank loans of ₹1,530 crore and cash reserves of ₹3,080 crore. Citi retained its “Buy” rating with a ₹14 target, implying a 47% upside. The stock has gained 11% in one month, 51% in three months, and 25% year-to-date.