Vodafone Idea Posts Staggering ₹51,970 Crore Net Profit on Exceptional AGR Accounting Gain

Vodafone Idea (Vi) reported a mind-boggling net profit of ₹51,970 crore for the March-ended quarter (Q4FY26), a massive swing from a ₹5,286 crore loss in the preceding quarter. While the headline number appears extraordinary, market analysts highlighted that it was almost entirely driven by an exceptional accounting gain of ₹51,976 crore arising from an Adjusted Gross Revenue (AGR) reassessment and future payment value recognition. On an operational level, the telecom giant showed modest but steady improvement, with EBITDA growing to ₹48.9 billion year-on-year and Average Revenue Per User (ARPU) rising to ₹190. In another major Q4 earnings update, Tata Steel delivered a straight beat, posting a net profit of ₹2,965 crore—ahead of street estimates—and approved the strategic acquisition of an additional 23% stake in TM International Logistics for ₹335 crore.