Vodafone Idea Q2 Results Date FY27: 12 Nov, Loss Base

Earnings · Telecom · Vodafone Idea · Q2 FY27 preview

The Vodafone Idea Q2 results date is Thursday, 12 November 2026, when the board meets for the September-quarter results. The company still reports a net loss, so the questions are how far it shrinks, whether ARPU keeps rising and how the debt is handled. This Vodafone Idea Q2 FY27 preview gives the date, the loss base and what to read first.

Updated: Wednesday, 11 November 2026, 10:30 AM IST  |  Reading time: 22 min  |  Next update: Thursday, 12 November 2026, after the board outcome

Latest update (Wednesday, 11 November 2026, 10:30 AM IST): A results-calendar page updated on 9 November 2026 lists the Vodafone Idea board meeting for Thursday, 12 November 2026, citing a notice to NSE dated 3 November. I could not open the exchange filing. I found no broker estimate for the Q2 FY27 loss or revenue; the views I found concern subscribers. I found no share price after 22 October 2026 and no result yet.

In plain words: Vodafone Idea, also called Vi, is India’s third-largest mobile operator and still reports a net loss. For such a company the headline question is how much the loss shrinks, and the reasons are average revenue per user (ARPU), subscriber numbers and debt. This Vodafone Idea Q2 FY27 preview gives the date, the loss base, the Q1 numbers and what to read first.

Data note: as of Wednesday, 11 November 2026, 10:30 AM IST. The date comes from Stockport’s results calendar (updated 9 November 2026). Q1 FY27 figures come from Business Today (10 August 2026) and MediaNama; Q2 FY26 figures come from Business Today and Business Standard (10 November 2025); AGR details come from Business Standard (1 May 2026); broker views come from Mint through TradingView and Kotak Neo (22 October 2026). I did not open the BSE or NSE filings or the company’s investor release. Sources disagree on some labels; each version is shown with its source. Derived figures are marked “my calculation”. If the filing differs from a source quoted here, the filing governs, and I will correct this page with a visible note.

When is the Vodafone Idea Q2 results date and time?

The Vodafone Idea Q2 results date is Thursday, 12 November 2026, when the board meets to approve the results for the quarter and half-year ended 30 September 2026; the time is not announced.

Stockport’s results calendar, updated on 9 November 2026, lists the Vodafone Idea board meeting on 12 November 2026, based on a notice to NSE on 3 November, and warns that dates can change until the meeting happens. On 22 October, Kotak Neo said the company had not announced the date, though the market expected it around mid-November. I found only one page with the exact day and I could not open the exchange intimation, so please confirm on the BSE or NSE page. The Vodafone Idea Q2 results date is the only date I found; I saw no conflicting one. The Vodafone Idea Q2 results time is not stated. In the two cases I could check, the results came after market hours: Business Today stamped its Q1 FY27 report at 8:35 PM IST on 10 August 2026 and said the Q2 FY26 results were disclosed after market hours on 10 November 2025. I treat that as a past pattern only, not a promise. The SEBI deadline is 14 November 2026, 45 days after quarter end.

Vodafone Idea Q2 results date: what is confirmed and what is not

Cite this table: PositionalCalls, “Vodafone Idea Q2 Results Date Table, as of 11 November 2026”.

The Vodafone Idea Q2 results date comes a day before the SEBI deadline and in a crowded week, so see the Q2 results calendar for other dates. For how another telecom operator’s quarter looked, see Airtel Q2 results FY27.

Vodafone Idea net loss base: what must the Q2 FY27 loss improve on?

The Vodafone Idea net loss base is the Q2 FY26 loss of Rs 5,524 crore on revenue of about Rs 11,190 crore, with Q1 FY27 already at a Rs 3,754 crore loss on Rs 11,689 crore of revenue and ARPU of Rs 195.

Cite this table: PositionalCalls, “Vodafone Idea Loss Base Table, as of 11 November 2026”.

My calculation: the Q1 FY27 loss of Rs 3,754 crore is already 32.0% below the Q2 FY26 base of Rs 5,524 crore, and Q1 revenue is 4.5% above it, so the Vodafone Idea net loss base is easy to beat on the year if Q1 holds. The question for the Vodafone Idea Q2 results date is the direction against Q1: whether the loss keeps shrinking quarter on quarter. Q1 FY26’s loss was Rs 6,608 crore, so the loss fell 43.2% on the year in Q1 (my calculation).

The Vodafone Idea ARPU Q2 FY27 base is also easy to read. Reported ARPU was Rs 166 in Q2 FY25, Rs 177 in Q1 FY26, Rs 180 in Q2 FY26, Rs 190 in Q4 FY26 and Rs 195 in Q1 FY27, so ARPU has risen in every period I could check. Between Q2 FY26 and Q1 FY27 it rose Rs 15, or 8.3% (my calculation). MediaNama says Q1 revenue rose 3.2% on the quarter, which puts Q4 FY26 revenue near Rs 11,327 crore (my calculation; I did not find the reported figure). Revenue growth has therefore come from ARPU while the subscriber base shrank, so the first thing to read is whether that pattern continues. I do not have the Q3 FY26 and Q4 FY26 loss figures, so I make no claim about the sequence of losses between the two quarters shown.

Which Vodafone Idea figures are right? Loss, revenue and subscribers

Use one source per quarter and check the label: the Q2 FY26 loss appears as Rs 5,524 crore and Rs 5,584 crore, revenue as Rs 11,190 crore and Rs 11,194.7 crore, and the Q1 FY27 4G/5G base has two year-ago figures.

Cite this table: PositionalCalls, “Vodafone Idea Definitions Table, as of 11 November 2026”.

My calculation: Rs 4,690 crore over Rs 11,190 crore is 41.9%, and Rs 5,034 crore over Rs 11,689 crore is 43.07%, matching the printed 43.1%. The Rs 5,584 crore figure is 22.2% below Rs 7,176 crore, against 23.0% for Rs 5,524.2 crore over Rs 7,175.9 crore; I use Rs 5,524 crore because two sources and a Business Standard cross-link give it, and I show the other as a conflict. The Vodafone Idea Q2 results date will bring both versions of each line, so match each to the same measure last year.

Another definitions trap, my calculation: total subscribers were 193.1 million in Q1 FY27 against 196.7 million in Q2 FY26, a fall of 3.6 million or 1.8%, even though Q1 was the first quarter of net additions since the merger (192.8 million to 193.1 million, up 0.3 million). Compare each figure with the same quarter, not with a headline about growth.

What do analysts expect before the Vodafone Idea Q2 results date?

I found no broker estimate for the Vodafone Idea Q2 FY27 loss, revenue or EBITDA; the only reported views, from Mint and Kotak Neo on 22 October 2026, concern subscribers and ARPU, so there is no consensus on the loss.

Cite this table: PositionalCalls, “Vodafone Idea Q2 FY27 Views, as of 11 November 2026”.

My calculation: the UBS figure and the ICICI Securities figure differ by about 0.9 million subscribers (195 million against 194.1 million), and both would reverse part of the 3.6 million year-on-year fall shown in the previous section. The same Mint article carries brokerage price targets, including Rs 14.50 from UBS and Rs 13 from Centrum Broking, and trading levels from a broker; I note them only as reported and do not use or endorse them. Nothing I found estimates the loss, revenue, EBITDA or ARPU in rupees, so any number I show for those lines is my own arithmetic.

For context, the shares were Rs 11.51 at 12:11 PM on 22 October 2026, down 1.12% on the day, down about 20% over the past month and up over 20% in six months (Kotak Neo, Mint). I found no later price, so this is a dated reference and not a view. On the Vodafone Idea Q2 results date, the fresh numbers will replace every row above.

What drives the Vodafone Idea loss: ARPU, subscribers, costs and capex

ARPU and subscriber count drive Vodafone Idea’s revenue, and each Rs 1 of ARPU is worth about Rs 58 crore of quarterly revenue on 193.1 million subscribers (my calculation), while interest, depreciation and capex decide the loss.

Cite this table: PositionalCalls, “Vodafone Idea Operating Drivers Table, as of 11 November 2026”.

My calculation: multiplying ARPU by subscribers by three months gives about Rs 11,296 crore for Q1 FY27 (195 times 193.1 million times 0.3 in rupee crore units), against reported revenue of Rs 11,689 crore. The gap of about Rs 393 crore is other revenue and the effect of machine-to-machine connections, which ARPU excludes (my reading). The rule of thumb that Rs 1 of ARPU is worth about Rs 58 crore a quarter is therefore approximate. MediaNama reports Q1 ARPU of Rs 195 against Rs 190 in Q4 FY26, so ARPU rose Rs 5 in the quarter, worth about Rs 290 crore a quarter on the same rule.

Business Today says Q1 capex was Rs 1,930 crore and that equipment orders of Rs 9,000 crore have been placed against the three-year guidance of Rs 45,000 crore. Business Standard says the company plans to raise Rs 25,000 crore through bank funding and Rs 10,000 crore through non-funded facilities to support that plan, together Rs 35,000 crore (my calculation). On the Vodafone Idea Q2 results date, read ARPU first, subscribers second and capex third, because they decide whether the plan is funded by operations or by borrowing.

Vodafone Idea AGR dues and spectrum payments: what the results must show

The government cut Vodafone Idea’s AGR dues by 27% to Rs 64,046 crore with no interest on the revised amount, but about Rs 49,000 crore of spectrum payments fall due across FY27 to FY29, according to Business Standard on 1 May 2026.

Cite this table: PositionalCalls, “Vodafone Idea AGR and Spectrum Table, as of 11 November 2026”.

My calculation: the three FY27 to FY29 spectrum figures add to Rs 49,000 crore, which matches the total. The AGR instalments add to Rs 64,792 crore (744 plus 400 plus 63,648), which is Rs 746 crore above the stated Rs 64,046 crore; the article does not explain the gap, so I show both and use the stated total. One analyst quoted by Business Standard said AGR is not the issue and that the company has to make spectrum payments to stay afloat, noting FY26 cash EBITDA of Rs 8,500 crore.

For the Vodafone Idea Q2 results date, the debt questions are specific: whether the company repeats the Rs 45,000 crore capex guidance, how much bank funding has been drawn, and whether it comments on the Rs 7,000 crore spectrum payment due in FY27.

What could the Vodafone Idea Q2 loss and revenue look like? A sensitivity table

Under my arithmetic, a Vodafone Idea Q2 FY27 loss between about Rs 3,003 crore and Rs 4,129 crore would still be 25% to 46% below the Rs 5,524 crore base, and ARPU of Rs 195 to Rs 205 on 193.1 to 195 million subscribers implies customer revenue of about Rs 11,296 crore to Rs 11,990 crore; this is a sensitivity table, not a forecast.

Assumptions: each row applies a stated change to the Q1 FY27 loss of Rs 3,754 crore, and compares with the Q2 FY26 loss of Rs 5,524 crore.

Cite this table: PositionalCalls, “Vodafone Idea Q2 FY27 Loss Sensitivity, as of 11 November 2026”.

The second table multiplies ARPU by subscribers by three months (Rs times million times 0.3 gives rupee crore). Subscriber levels are 193.1 million (Q1 FY27), 194.1 million (ICICI Securities view, my calculation) and 195 million (UBS view). It excludes machine-to-machine and other revenue, so it sits below reported revenue.

Cite this table: PositionalCalls, “Vodafone Idea ARPU and Subscriber Grid, as of 11 November 2026”.

These are not estimates. Each Rs 1 of ARPU is about Rs 58 crore a quarter, so a Rs 5 rise is about Rs 290 crore, which is small beside the Rs 3,754 crore loss; that is why interest and depreciation, not only ARPU, decide the loss (my reading). Judge the figures released on the Vodafone Idea Q2 results date against the same measure last year, and read the loss together with revenue and EBITDA.

Three worked examples

• Loss against the base: a loss of Rs 3,754 crore is 32.0% below Rs 5,524 crore.
• ARPU step: Rs 195 against Rs 190 in Q4 FY26 is Rs 5, or about Rs 290 crore a quarter.
• Subscribers: 194.1 million would still be 2.6 million below the 196.7 million of Q2 FY26 (my calculation).

Vodafone Idea Q2 results date decoder: what to read first

For the Vodafone Idea Q2 results, read the net loss and revenue first, then ARPU, subscribers, EBITDA, capex and any comment on AGR and spectrum dues.

Cite this table: PositionalCalls, “Vodafone Idea Results-Day Decoder, as of 11 November 2026”.

Vodafone Idea results terms in plain words

Seven terms decide how the Vodafone Idea Q2 results read: ARPU, net additions, EBITDA, cash EBITDA, AGR, spectrum liability and capex.

Cite this table: PositionalCalls, “Vodafone Idea Results Terms, as of 11 November 2026”.

A figure with no label is the first thing to question. When a headline says “Vi loss narrows”, ask whether it is the net loss, which year it compares with and whether a one-time item is included. The same habit applies to every company on the results calendar.

How to read the Vodafone Idea Q2 results and what to avoid

On the Vodafone Idea Q2 results date, use the exchange filing and the company’s investor release, and ignore any message that offers the result early.

1. Open the BSE or NSE announcements page for Vodafone Idea and find the results filing.
2. Read the consolidated statement and note the net loss and revenue.
3. Find ARPU, subscribers and EBITDA in the company’s release and compute the margin yourself.
4. Check exceptional items and the capex and debt commentary.
5. Compare each line with the decoder.
6. Note any AGR or spectrum update in the notes.

Five common mistakes

• Mixing EBITDA measures: comparing cash EBITDA with reported EBITDA.
• Reading a narrower loss as profit: the company still reports a net loss.
• Ignoring the subscriber base: growth after Q1 still leaves the base below a year ago.
• Trusting an early screenshot: only the filing counts.
• Calling a beat without a source: there is no broker loss estimate I could find.

What it costs and what to avoid

Reading the result costs nothing. Dealing costs depend on your broker, so check the current charges schedule. For tax on gains, see our capital gains tax on shares guide. Fake result alerts, “sure-shot” tips and KYC or OTP links circulate around results days. Never share an OTP.

What most people miss before the Vodafone Idea Q2 results date

Analyst’s note on the Vodafone Idea Q2 results date and base

Part of the Earnings series.

Vodafone Idea Q2 results date: frequently asked questions

Sources

• Stockport, Vodafone Idea Q2 FY27 results calendar (updated 9 November 2026)
• Kotak Neo, Vodafone Idea shares and Q2 FY27 results (22 October 2026)
• Mint via TradingView, Vodafone Idea shares and Q2 results 2026 (22 October 2026)
• Business Today, Vodafone Idea Q1 FY27 results (10 August 2026)
• MediaNama, Vodafone Idea Q1 FY27 ARPU and subscribers (August 2026)
• Business Today, Vodafone Idea Q2 FY26 results (10 November 2025)
• Business Standard, Vodafone Idea Q2 FY26 results (10 November 2025)
• Business Standard, government AGR relief to Vi (1 May 2026)
• Upstox, Vodafone Idea Q2 FY26 key numbers (headline only)
• BSE and NSE announcement pages and the Vodafone Idea investor page: where the filing is published (I did not open them).

Editorial disclosure: PositionalCalls.com is not a SEBI-registered research analyst or investment adviser. Investments in securities markets are subject to market risks. Read all related documents carefully before investing. Returns are never guaranteed. PositionalCalls.com is an independent research and education site founded by Shubham Chaudhary. This page is not investment advice, a recommendation or a price target. How I researched this: I compared nine press, calendar and data-platform reports of the date, the last two results, the subscriber and ARPU data and the AGR relief, tied margins and loss changes across them, recalculated every derived figure and listed conflicts openly. I did not open the exchange filings; own calculations are labelled.