The company has recorded a net exceptional gain of Rs 57,491 crore in the quarter ended on 31 March 2026. This primarily was on account of reduction in the company’s AGR dues.
Vodafone Idea stated that the Department of Telecommunications (DoT) has revised the company’s AGR dues downward from Rs 87,695 crore to Rs 64,046 crore as of 31 December 2025, with repayments largely deferred to FY32–FY41. The company is also required to pay Rs 609 crore in Spectrum Usage Charges (SUC) dues in annual instalments through FY31.
Following the reassessment, the company reduced its AGR liability from Rs 80,502 crore to Rs 24,880 crore under Indian Accounting Standards (Ind AS 109), resulting in an exceptional gain of Rs 55,622 crore in FY26.
Vodafone Idea’s revenue rose by 3.2% year-on-year (YoY) to Rs 11303 crore in Q4 FY26.
Total operating expenditure increased by 1.4% to Rs 6443 crore in Q4 FY26 over Q4 FY25. Interest outgo and depreciation charges for the March 2026 quarter were Rs 4990 crore (down 22.9% YoY) and Rs 5518 crore (down 1% YoY), respectively.
The company’s loss before exception items and tax was Rs 5,515 crore in Q4 FY26 as against Rs 7,167 crore in Q4 FY25.
As on 31 March 2026, the debt from banks stood at Rs 726 crore, which reduced from Rs 2,326 crore for the same period last financial year. Additionally, in December 2025, the company raised Rs 3,300 crore via NCDs. The cash and bank balance stood at Rs 3,715 crore as of 31 March 2026.
The customer ARPU increased to Rs 190 in Q4 FY26 compared to Rs 175 in Q4 FY25, a YoY increase of 8.3%. This was primarily supported by customer upgrades.
The total subscriber base stood at 192.8 million. The company’s monthly subscribers’ addition has turned positive since February 2026. It has closed the quarter with 128.9 million 4G/5G subscribers, up from 126.4 million in the same period last year.
For FY26, the telecom service provider has registered a net profit of Rs 34,552 crore. It had recorded a loss of Rs 27,383.40 crore in FY25. Revenue rose by 3.1% YoY to Rs 44,789 crore in FY26.
Abhijit Kishore, CEO, Vodafone Idea, said: “The gains from the capex investments and network rollout are now clearly visible.
Q4 FY26 marks a decisive step forward with all seven key parameters that we benchmark our performance to, demonstrating sequential improvement. Most significantly, our subscriber addition turned net positive since February 2026, a meaningful milestone that reflects the impact of our sustained network investment.
We also expanded our 4G coverage to include a population of over 48 million and our 5G experience is now live in over 80 cities in line with our commitment to strengthen the network and deliver superior customer experience.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is amongst India’s leading telecom service providers. The company holds a large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave spectrum in 16 circles. The company provides voice and data services across 2G, 4G and 5G platforms and is expanding 5G services across 17 circles.
The scrip fell 2.85% to currently trade at Rs 12.59 on the BSE.
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