Vodafone Idea’s operating cash flows may fall short of spectrum payment obligations from FY29: Report

NEW DELHI: Vodafone Idea’s operating cash flows are likely to fall short of the telecom operator’s spectrum payment obligations from FY29, according to a report released by HSBC Global Investment Research recently.

The brokerage said that Vi will need to increase its operating cash flow by nearly three-fold in three years to meet its spectrum payment obligations. However, it estimated the third-largest Indian telecom carrier’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) to increase by only 15% during FY26 and FY29, helped by a tariff hike in the first quarter of FY27.