Just In
- 17 hrs ago The Google Pixel 8a Has Leaked in All Four Gorgeous Colors - Check Them Out!
- 17 hrs ago WhatsApp is Testing Meta AI Chatbot for Some Beta Users in India: How to use it!
- 17 hrs ago Vivo’s Next Phone Is Reportedly Dubbed the X100 Ultra and It Will Be a Professional Camera That Can Make Calls
- 17 hrs ago Realme P1 5G Early Bird Offer Revealed Ahead of April 15 Launch; Features, Price in India
Don't Miss
- Lifestyle Assamese New Year 2024 Wishes: Bohag Bihu Greetings, Messages, Images, SMS, Twitter And Instagram Status
- Sports MI vs CSK Dream11 Prediction IPL 2024 Match 29: Squads, Fantasy Tips & Best Picks
- Finance 3 Bonus, 1:10 Split, 625% Dividend: FMCG ITC Stock To Make You Rich; Buy For Short-And-Long Term Targets!
- News Iran Escalates Tensions with Ballistic Missile Attack on Israel
- Movies Will Yeh Rishta Kya Kehlata Hai Go OFF Air After 15 Years? Rajan Shahi's Statement Goes Viral
- Automobiles The Leading Superbikes: Engineering Mastery Meets Track Speed
- Education Discover the Top Medical Universities Abroad for Your Future Success
- Travel Hanuman Jayanti 2024: Visit Anjanadri Hill, the birthplace of Lord Hanuman near Hampi, Karnataka
Idea faces its first net loss of Rs 384 crore in Q3 2016
The telcos total income also went down to Rs 8,706.36 crore for the quarter
After the arrival of Reliance Jio, India's third largest telecommunication service provider Idea Cellular reported its first ever loss since its IPO in 2007.
"The Indian mobile industry witnessed an unprecedented disruption in the quarter of October to December 2016, primarily due to free voice & mobile data promotions by the new entrant in the sector," Idea said. The company further noted, "the sector can expect to recover revenues only once the new operator starts charging for its pan India mobile services."
"As a result of this current industry upheaval, the standalone Idea revenue dropped to an unforeseen level at Rs. 86,627 million, a decline of 6.9 per cent on sequential quarterly basis and standalone EBITDA fell to Rs. 21,655 million," Idea said.
The telcos total income also went down to Rs 8,706.36 crore for the quarter, from Rs 9,032.43 crore in the same period in the previous year.
SEE ALSO: Jio to offer 6 series mobile number in Tamil Nadu, Rajasthan and Assam
The Aditya Birla Group which is in talks with Vodafone for a proposed merger says,
"In an effort to retain its existing mobile subscribers, the company was forced to reduce on sequential quarterly basis its voice rates by 10.6 per cent to 29.6 paisa per minute."
"Despite an unprecedented outgoing voice rate fall, the lure of free offerings resulted in lower than normal volume elasticity with the quarterly sequential voice minutes growing only by 7.3 per cent to 210 billion minutes, that too led by double digit growth in incoming call volume," Idea added.
The company's net debt stood at Rs 49,140 crore at the end of December 2016.
Idea's capex spent was Rs 2,000 crore (excluding forex and interest capitalisation) in the reported quarter.
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
3,999
-
2,500
-
3,599
-
8,893
-
13,999
-
32,999
-
9,990
-
14,999
-
12,999
-
12,999