Vodafone Idea (Vi) has turned a corner. The company reported a modest gain in active subscribers in September 2025, marking the end of a 21-month streak of decline. While the increase is small, it signals possible improvements in retention and operational momentum.
What Happened: Active Subscriber Gain After Long Decline
- Vi’s active subscriber base rose by around 20,000 connections in September 2025.
- Prior to this, the company had lost subscribers for 21 straight months.
- The average monthly loss in 2024 was about 1.7 million subscribers per month.
- In 2025 so far, losses have moderated to about 600,000 per month, representing a ~65% improvement in the pace of loss-reduction.
- Vi gained active subscribers in 15 out of 22 telecom circles in September.
- Despite the gain, Vi’s market share remains under pressure: active subscriber base of ~172 million as of September, down from ~180 million a year ago; share at ~16% (down from over 17%). The Economic Times
Why This Matters
1. Turnaround signal
Even a small gain after 21 months suggests that Vi’s efforts around network investment (4G/5G), retention strategies and cost control may be starting to pay off.
2. Investor and creditor confidence
Vi’s performance matters for its debt-laden balance sheet and for infrastructure partners (e.g., tower companies) that depend on its subscriber base. Improvement in active users helps credibility.
3. Competitive positioning
In a market dominated by Reliance Jio Infocomm Ltd and Bharti Airtel Ltd, any stabilization or growth is meaningful for Vi’s survival strategy.
4. Operational discipline
Reducing churn, improving network quality and gaining in more circles shows operational improvements, which are key for long-term viability.
Challenges & What to Watch
- The gain was very modest (20,000) compared to the scale of previous losses. A single month’s uptick does not guarantee a sustained reversal.
- Market share remains under threat; Vi is still behind its competitors and has considerable ground to cover.
- Financial headwinds persist: high debt, regulatory burdens, spectrum/supply issues and capital expenditure needs.
- Need to translate improved retention/gain into improved ARPU (average revenue per user) and profitability, not just subscriber numbers.
- Execution across all circles must improve: ensuring network quality, coverage, pricing competitiveness etc.
Conclusion
Vodafone Idea’s first active subscriber gain in nearly two years is a positive signal — but it is still a small step in a long journey. The company’s ability to build on this momentum, manage its financial stress and compete effectively will determine whether this uptick is the start of a turnaround or merely a blip.
