Vi lost 12.4 mn subscribers in the first quarter, most since March-end 2020

Vodafone Idea (Vi) lost 12.4 million subscribers in the first quarter of FY22, the most since the fourth quarter of FY20, as the second wave of Covid hurt its operational and financial performance.

Vi had managed to trim subscriber losses in the third and fourth quarters of FY21. However, it lost 12.4 million subscribers and its customer base shrunk to 255.4 million in the first quarter of FY22.

Sequential fall in 4G users was modest, indicating that most of the loss was in the low-margin 2G segment. At the end of the June quarter, Vi reported 112.9 million 4G users against 113.9 million in the previous quarter. Rival Reliance Jio gained the most from Vi’s falling market share as it added 14.4 million subscribers in the first quarter.