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162	162
163	163	= Financial Highlights =
164	164
165		-Revenues
	165	+**Revenues**
166	166
167	167	Revenue from operations for the Financial Year ended March 31, 2021 decreased by Rs 30,053 Mn and stood at Rs 419,522 Mn for Financial Year ended March 31, 2021 as compared to Rs 449,575 Mn for Financial Year ended March 31, 2020, primarily due to decrease in IUC rates effective January 1, 2021 and reduction in Postpaid Revenue.
168	168
169	169	Other Income comprising of Interest Income, Gain on investments in mutual funds and others stood at Rs 1,742 Mn for Financial Year ended March 31, 2021 as compared to Rs 10,393 Mn for Financial Year ended March 31, 2020. The decrease is mainly on account of decrease in interest income amounting to Rs 6,143 Mn, decrease in gain on investment in mutual funds by Rs 2,479 Mn and decrease in others by Rs 29 Mn.
170	170
171		-Operating Expenses
172	172
	172	+**Operating Expenses**
	173	+
173	173	Total operating expenditure for the Financial Year ended March 31, 2021 decreased by Rs 50,385 Mn to Rs 250,065 Mn from Rs 300,450 Mn incurred for Financial Year ended March 31, 2020.
174	174
175	175	Employee benefit expenses for the Financial Year ended March 31, 2021 decreased by Rs 1,343 Mn to Rs 20,300 Mn from Rs 21,643 Mn incurred for Financial Year ended March 31, 2020 due to reduction in head count.
...	...	@@ -182,8 +182,9 @@
182	182
183	183	Other expenses decreased by Rs 5,277 Mn from Rs 19,321 Mn for Financial Year ended March 31, 2020 to Rs 14,044 Mn for Financial Year ended March 31, 2021 primarily due to reduction in Travelling and conveyance, Legal and professional charges and Support service charges.
184	184
185		-EBITDA
186	186
	187	+**EBITDA**
	188	+
187	187	The EBITDA has increased by Rs 11,681 Mn from Rs 159,518 Mn for Financial Year ended March 31, 2020 to Rs 171,199 Mn for Financial Year ended March 31, 2021. EBITDA as a percentage of total income increased to 40.6% compared to 34.7% for Financial Year ended March 31, 2020.
188	188
189	189	Depreciation and Amortisation expenses decreased by Rs 7,179 Mn from Rs 243,564 Mn for Financial Year ended March 31, 2020 to Rs 236,385 Mn for Financial Year ended March 31, 2021. The depreciation charge for the year has decreased by Rs 7,067 Mn from Rs 152,080 Mn for Financial Year ended March 31, 2020 to Rs 145,013 Mn for Financial Year ended March 31, 2021, primarily as a result of assets impaired and lower one day impact. The amortisation charge for the year has decreased by Rs 112 Mn from Rs 91,484 Mn for Financial Year ended March 31, 2020 to Rs 91,372 Mn for Financial Year ended March 31, 2021, primarily as a result of lower one day impact off set by change in useful life of Brand.
...	...	@@ -190,31 +190,33 @@
190	190
191	191	Finance Charges for Financial Year ended March 31, 2021 increased by Rs 26,061 Mn from Rs 153,920 Mn to Rs 179,981 Mn, primarily due to increase in interest on deferred payment obligation pursuant to AGR judgement during the year by Rs 33,763 Mn and increase in interest on deferred payment liability towards spectrum due to availment of moratorium by approximately Rs 7,000 Mn partially offset by decrease in forex loss by Rs 10,095 Mn and decrease in interest on lease liability by Rs 5,346 Mn.
192	192
193		-Exceptional Items
194	194
	196	+**Exceptional Items**
	197	+
195	195	Exceptional Items for the year ended March 31, 2021 amounting to Rs 199,681 Mn comprises of (i) charge towards AGR matters Rs 194,405 Mn, (ii) integration and merger related costs Rs 9,892 Mn, (iii) Gain due to cancellation of lease contract on network re-alignment Rs 1,696 Mn (iv) accelerated depreciation/impairment of assets on account of network re-alignment/re-farming Rs 5,745 Mn, (v) One Time Spectrum Charges Rs 5,027 Mn, (vi) Impairment of Brand Rs 7,246 Mn, (vii) Gain on sale of stake in Indus Rs 21,189 Mn and (viii) others Rs 251 Mn.
196	196
197		-Profits and Taxes
198	198
	201	+**Profits and Taxes**
	202	+
199	199	The loss before tax for the Financial Year ended March 31, 2021 stood at Rs 442,534 Mn as compared to a loss of Rs 617,970 Mn for Financial Year ended March 31, 2020. The loss after tax for Financial Year ended March 31, 2021 stood at Rs 442,331 Mn as compared to a loss of Rs 738,781 Mn for Financial Year ended March 31, 2020.
200	200
201		-Capital Expenditure
202	202
	206	+**Capital Expenditure**
	207	+
203	203	During the Financial Year 2020-21, the capital expenditure (including capital advances and excluding RoU assets and Spectrum) incurred was Rs 37,981 Mn. Further to the above, the Company has incurred Rs 3,552 Mn towards Bandwidth and Rs 5,747 Mn towards the upfront payment for the unassigned spectrum.
204	204
205		-Cash Flow
206	206
	211	+**Cash Flow**
	212	+
207	207	The cash generated from operations of Rs 156,397 Mn (net of Rs 10,000 Mn paid towards the AGR matter), cash realized on sale of current investments amounting to Rs 37,472 Mn, proceeds of short term investment in fixed deposits amounting to Rs 16,477 Mn, Net sale of current investments amounting to Rs 4,952 Mn, interest received of Rs 1,797 Mn, and Dividend received from Indus Rs 1,115 Mn was primarily used for net repayment of lease liabilities and borrowings of Rs 139,058 Mn, payment towards capital expenditure (net of sale proceeds) Rs 45,315 Mn, payment of interest and finance charges Rs 28,256 Mn, Payment towards Spectrum and Licenses - Upfront payment of Rs 5,747 Mn. Consequently, Cash and Cash Equivalents as at March 31, 2021 stood at Rs 3,503 Mn
208	208
209	209
210		-Q2FY22 results
	216	+== Q2FY22 results ==
211	211
212		-Highlights for the Quarter
	218	+**Highlights for the Quarter**
213	213
214		-Revenue grew by 2.8% QoQ to Rs. 94.1 billion supported by the gradual resumption of economic activity post severe second wave of COVID, which had negatively impacted Q1
	220	+Revenue grew by 2.8% QoQ to Rs. 94.1 billion supported by the gradual resumption of economic activity post severe second wave of COVID, which had negatively impacted Q1{{footnote}}https://www.vodafoneidea.com/content/dam/vodafone-microsite/docs/pdf/investor-/results/VIL_PR_Q2FY22.pdf{{/footnote}}
215	215
216		-[[https:~~/~~/www.vodafoneidea.com/content/dam/vodafone-microsite/docs/pdf/investor-/results/VIL_PR_Q2FY22.pdf>>url:https://www.vodafoneidea.com/content/dam/vodafone-microsite/docs/pdf/investor-/results/VIL_PR_Q2FY22.pdf]]
217		-
218	218	Continued network capacity expansion supported by spectrum refarming and network upgrade to 4G
219	219
220	220	Vi powered by GIGAnet is India’s fastest mobile network as verified by Ookla
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223	223
224	224	Cost optimization underway with 80% savings achieved as of Q2FY22 on a run rate basis against a target of Rs. 40 billion annualized opex savings
225	225
	230	+
226	226	Ravinder Takkar, MD & CEO, Vodafone Idea Limited, said “The company welcome the Government’s landmark reform package which addresses several industry concerns and provides immediate relief to the financial stress in the sector. The company also appreciate the Government’s recognition of the telecom sector’s contribution in keeping the country connected during the pandemic. During the last quarter, the company witnessed a recovery in its operating momentum as the economy has started to gradually open up aided by the ongoing rapid vaccination drive. The company continue to improve its 4G subscriber base on the back of superior data and voice experience on Vi GIGAnet, India’s fastest mobile network, which is testified through consistent top rankings in Ookla and TRAI. The company continue to focus on executing its strategy to improve its competitive position and win in the marketplace.”
227	227
228		-Financial highlights
229	229
	234	+**Financial highlights**
	235	+
230	230	Revenue for the quarter was Rs. 94.1 billion, an improvement of 2.8% QoQ, aided by pick up in the economic activities and easing of lockdown/restrictionsinduced by severe second wave of COVID, which impacted Q1FY22. On a reported basis, EBITDA for the quarter improved to Rs. 38.6 billion, up 4.2% QoQ, aided by improvement in revenue which was partially offset by increase in customer acquisition costs due to higher gross additions during the quarter and other inflationary cost increases. EBITDA margins were 41.1% vs 40.5% in Q1FY22. EBITDA excluding IndAS 116 impact was Rs. 15.6 billion, compared to Rs. 13.8 billion in Q1FY22. Capex spend for Q2FY22 was Rs. 13.0 billion vs Rs. 9.4 billion in Q1FY22.
231	231
232	232	The total gross debt (excluding lease liabilities and including interest accrued but not due) as of September 30, 2021 stands at Rs. 1,947.8 billion, comprising of deferred spectrum payment obligations of Rs. 1,086.1 billion, AGR liability of Rs. 634.0 billion that are due to the Government and debt from banks and financial institutions of Rs. 227.7 billion. Cash & cash equivalents were Rs. 2.5 billion and net debt stood at Rs. 1,945.3 billion.
233	233
234		-Operational highlights
235	235
	241	+**Operational highlights**
	242	+
236	236	The company continue to invest in 4G to increase its coverage and capacity. During the quarter, the company added ~~10,800 4G FDD sites primarily through refarming of 2G/3G spectrum (shutdown ~~9,600 3G sites) to expand its 4G coverage and capacity. The company's overall broadband site count stood at 450,481, compared to 447,114 in Q1FY22. Till date, Vodafone Idea has deployed over 65,000 TDD sites in addition to the deployment of ~~13,850 Massive MIMO sites and ~~13,000 small cells. The company continue to expand its LTE 900 presence in 12 circles at multiple locations, including through dynamic spectrum refarming, to improve customer experience. The company's 4G network covers over 1 billion Indians as of September 30, 2021 (4G coverage is the population reached/covered by VIL with its 4G network).
237	237
238	238	These network investment initiatives continue to deliver a significant capacity uplift with its data capacity now over 2.8x compared to September 2018. The company's relentless pursuit to have a superior 4G network in the country, through integration and incremental network investments post-merger, are clearly visible through its top rankings on 4G speeds in various external reports. Vi powered by GIGAnet is India’s fastest mobile network* as verified by Ookla®. The company also have the highest rated voice quality in the country as per TRAI’s “MyCall” app data for 9 out of 11 months between November 2020 and September 2021.
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244	244	The company conducted 5G trials on Government allocated spectrum bands like 26 GHz and 3.5 GHz in Pune (Maharashtra) and Gandhinagar (Gujarat). Vodafone Idea has demonstrated peak speeds of 4.2 Gbps on 26 GHz band and 1.5 Gbps on 3.5 GHz. The company also tested E band backhaul spectrum where the company demonstrated the peak speeds of 9.8 Gbps.
245	245
246	246
247		-References
	254	+= References =
248	248
249	249	{{putFootnotes/}}