Vodafone Idea, India’s third-largest telecom operator, posted a ₹51,970 crore net profit in the March quarter owing to one-time accounting gain from the government's adjusted gross revenue (AGR) relief.
This is the first time in recent years that the company has shown a significantly high net profit. To be sure, the telecom operator booked a ₹58,116 crore exceptional gain during the quarter on the reduction of deferred AGR dues payment obligations.
The loss, before accounting for the exceptional gain, was at ₹5,515 crore, narrowing from ₹5,286 crore in the preceding quarter and ₹7,167 crore in the year-ago period.Separately, on Saturday, the telecom operator said the promoter, the Aditya Birla Group, has committed to a capital infusion of ₹4,730 crore. The board has approved the issuance of warrants to the promoter entity, which can be converted into equity shares, the company said.
Its revenue from operations increased 2.9% on-year and 2.3% on-quarter to ₹11,332 crore, surpassing the average estimate of four brokerage firms of ₹11,287 crore. The improvement in revenue can be attributed to its network expansion and improvements, 2G-to-4G/5G migration, and increased data consumption on the network.
“The gains from the capex investments and network rollout are now clearly visible. Q4FY26 marks a decisive step forward across all seven key parameters we benchmark our performance against, 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,” said Abhijit Kishore, chief executive of Vodafone Idea.
In 2025-26, the company witnessed a 3% increase in revenue from operations to ₹43,571 crore. The company posted a net profit of ₹34,552 crore, up from ₹20,217 crore in the previous year.