India’s Vodafone Idea reports sixth straight quarterly loss

(Reuters) – Vodafone Idea Ltd on Thursday reported a sixth straight quarterly loss, as the troubled Indian mobile carrier shed millions of mobile subscribers. The company posted a loss of 64.39 billion Indian rupees ($903.48 million) in the three months ending Dec. 31, compared with a loss of 50.05 billion rupees a year earlier. The quarterly results come as Vodafone Idea and other Indian telecom firms are pressured by government demands to pay $13 billion in overdue levies in a long-contested dispute. Vodafone Idea had reported a loss of 509.22 billion rupees in the second quarter of 2019, the biggest loss ever by a company in Indian corporate history. (Reporting by Philip George in Bengaluru; Editing by Shounak Dasgupta)

Read Full Article Here

If You Like This Story, Support NYOOOZ



Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.

Related Articles