Vodafone Idea shares up 6% today: Here we decode why
What's the story
Vodafone Idea's stock price surged over 6% today after the telecom operator reported a narrowing of losses for the September quarter. The company's consolidated net loss for Q2 FY26 stood at ₹5,524.2 crore, down from ₹7,175.9 crore in the same period last year and a significant improvement from ₹6,608.1 crore in Q1 FY26.
Financial growth
Revenue from operations up by 2.4% YoY
Vodafone Idea's revenue from operations for Q2 FY26 also saw a 2.4% YoY increase to ₹11,194.7 crore, up from ₹10,932.2 crore last year. The company attributed this growth mainly to an increase in average revenue per user (ARPU). The customer ARPU rose by 8.7% YoY to ₹180 in Q2 FY26 as compared to ₹166 in the same quarter last year.
Subscriber growth
Subscriber base at 196.7M in Q2 FY26
Vodafone Idea's total subscriber base stood at 196.7 million in Q2 FY26, with 127.8 million subscribers on its 4G/5G networks. This is an increase from the 125.9 million subscribers in the same period last year. However, at the operational level, EBITDA for the September quarter was ₹4,690 crore while cash EBITDA (excluding Ind AS 116 impact) was ₹2,250 crore, lower than ₹2,320 crore in Q2 FY25.
Market outlook
Citi maintains 'Buy' rating on Vi
Citi has maintained a 'Buy' rating on Vodafone Idea stocks with a target price of ₹14 per share, indicating an upside potential of more than 47% from its previous close price. Meanwhile, UBS has given a 'Neutral' call with a target price of ₹9.7 per share for the telecom stock.