Motilal Oswal: Vodafone Idea Q1 Review - Benefit Of Price Hike Eroded; Liquidity Remains Precarious

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Vodafone Idea Ltd.’s adjusted Ebitda pre Indian Accounting Standard (Ind-AS 116) was down 10% QoQ (in-line) to Rs 15.4 billion, as revenue slid 9% impacted by the lockdown.However, it was much below peers. With ballooning net debt of Rs 1,659 billion (including adjusted gross revenue (AGR) liability) and cash flow requirement of Rs 300 billion to service its debt/capex, Vodafone India awaits clarity from the Supreme Court. It is seeking to double average revenue per user (ARPU) to make sustainable profits.Revenues were down 9.3% QoQ to Rs 106.6 billion (in-line) on subscribers/ARPU decline of 4%/6%, owing to the Covid-19 led lockdown and disruption of economic activities.Ebitda declined 6% QoQ to Rs 41 billion. After adjusting for Rs 3 billion one-off credits (Rs 4 billion in Q4 FY20) related to network cost, license fees/ spectrum usage charges, Ebitda declined 5% to Rs 38 billion (in-line).Ebitda on pre Ind-AS 116 basis (adjusted for one-off credits) stood at Rs 15.4 billion, down 10% QoQ (in-line)..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Motilal Oswal: Vodafone Idea Q1 Review - Benefit Of Price Hike Eroded; Liquidity Remains Precarious

Motilal Oswal: Vodafone Idea Q1 Review - Benefit Of Price Hike Eroded; Liquidity Remains Precarious

Choose a plan