Vodafone Idea is down with Rs 4881.9 Crore In Q4
By MYBRANDBOOK
Vodafone Idea, India’s largest telecom operator posted a consolidated loss of Rs 4,881.9 crore for the fourth quarter ended March 31, in a tuff price tariff war to survive in India’s mobility market, which is very competitive with the emergence of Jio.
The telecom sector has been battered by falling tariffs, eroding profitability, and towering debt, in the face of stiff competition triggered by disruptive offerings of Reliance Jio. As per Vodafone Idea, there was a comprehensive loss of Rs 962.2 crore in the same quarter a year ago, but the year-on-year figure is not comparable as the merger between India unit of Vodafone Group and Idea Cellular was completed on August 31, 2018.
Whereas, Reliance Jio - the revenue from operations for March quarter of 2018-19 came in at Rs 11,775 crore, almost flat compared to Rs 11,764.8 crore logged in the previous December quarter. “The initiatives we have taken since the merger are yielding positive results and we are well on track to deliver our synergy targets two years early,” Vodafone Idea CEO Balesh Sharma said.
The company remains focused on fortifying its position in key profitable districts by expanding coverage and capacity of its 4G network, targeting higher share of new 4G customers, and improving cash flows through cost transformation, he added. For the full year FY19, the company suffered loss of Rs 14,603.9 crore, while the revenue from operations was pegged at Rs 37,092.5 crore.
The company’s Average Revenue Per User (ARPU) for the just-ended quarter grew 16.3 percent sequentially to Rs 104 (against Rs 89 in Q3). The Vodafone Idea scrip closed at Rs 14.45 a piece on the BSE, 3.21 percent higher than the previous close.
There is serious challenge telecom players face to grow profitability in India despite the market’s massive data and voice consumption. However, the industry pundits are talking about a recovery or rebound in the offerings, and estimate that industry revenue is expected to rise by 5-10 percent this year.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : Anil Agarwal
Anil Agarwal, the Founder and Chairman of Vedanta Resources Ltd., is r...
Icons Of India : Puneet Chandok
Puneet Chandok is President, Microsoft India & South Asia and is respo...
ICONS OF INDIA : SANDIP PATEL
Sandip Patel is the Managing Director for IBM India & South Asia regio...
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
GSTN - Goods and Services Tax Network
GSTN provides shared IT infrastructure and service to both central and...
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...