Vodafone Idea said its 5G network now covers more than 80 cities across all 17 telecom circles where it owns 5G spectrum
In sum – what to know:
Unexpected profit – Vodafone Idea reported a profit after tax of INR345 billion for FY2026, despite expectations of another annual loss, while revenue rose 3% and EBITDA increased 4.8%.
Network expansion – The operator accelerated 4G and 5G deployments, expanding 5G coverage to more than 80 cities and increasing 4G population coverage to 86% across India.
Selective FWA plans – Vodafone Idea is evaluating fixed wireless access opportunities, though management said the current priority remains expanding mobile 4G and 5G coverage.
Indian carrier Vodafone Idea posted an unexpected profit for the financial year ended March 31, 2026, as the telco accelerated network investments, expanded 5G coverage, and secured fresh capital support from Aditya Birla Group.
Profit after tax for fiscal year 2026 reached INR345 billion ($3.5 billion), despite analysts expecting another annual loss. Revenue increased 3% year-over-year to INR448 billion, while EBITDA rose 4.8% to INR190 billion.
The operator continued to ramp up network investment during the year, with capital expenditure totaling INR87 billion. Vodafone Idea said its 5G network now covers more than 80 cities across all 17 telecom circles where it owns 5G spectrum, following the commercial launch of 5G services in Mumbai in March 2025.
In a conference call with investors, Vodafone Idea’s chief executive officer, Abhijit Kishore, said the company’s customer mix continues shifting toward higher-value subscribers.
“The customer ARPU has now been increasing for the 19 consecutive quarters. The customer ARPU expansion over the last year has been driven primarily by premiumization, which is evident from our improving 4G, 5G subscriber mix, which stood at 66.9% in fiscal Q4, up from 63.8% in fiscal Q4 2025,” Kishore said.
ARPU increased from INR175 in the fourth quarter of fiscal 2025 to INR190 in the same period of fiscal 2026, which Vodafone Idea described as the highest quarterly increase in the Indian telecom sector.
The operator’s total subscriber base stabilized at 192.8 million users during the fiscal year. Meanwhile, its combined 4G and 5G subscriber base increased to 129 million.
Vodafone Idea also highlighted broader network modernization efforts over the last six quarters.
“Over the last six quarters, we added approximately 30,000 unique broadband towers and expanded capacity by adding over 126,000 new broadband layers (…) We also expanded 4G capacity by over 27% and improved our 4G population coverage over 86% on pan-India basis to deliver superior connectivity and experience to our customers,” Kishore said.
According to the operator, its 4G network now reaches 86% of India’s population after adding coverage for an additional 48 million people during the year. Vodafone Idea said it expects 4G population coverage to reach 95% across its 17 priority deployment circles.
The carrier ended the fiscal year with 202,008 broadband tower sites after adding 17,300 new sites.
Vodafone Idea executives also indicated that the operator is evaluating fixed wireless access (FWA) opportunities as part of its broader 5G strategy.
“On FWA, we are looking at some of the pilots,” said Vodafone Idea’s chief financial officer, Tejas Mehta. “We are evaluating FWA. Right now, the focus is largely on the mobility, because I think we have a large gap on the mobility front on both 4G and 5G,” he said.
Mehta added: “FWA will be a part of the strategy, but only in select places. That’s the strategy that is there.”
Vodafone Idea’s board also approved a fresh capital injection from Aditya Birla Group, one of the operator’s key shareholders, as the company continues efforts to strengthen its balance sheet after years of financial pressure and intense competition in the Indian telecom market.
