Vodafone Idea reduces loss to Rs 7,176 crore in July-Sept quarter
Vodafone Idea has reduced its losses to Rs 7,176 crore in the July-September quarter of the current financial year from Rs 8,738 crore in the same quarter last year.
Vodafone Idea has reduced its losses to Rs 7,176 crore in the July-September quarter of the current financial year from Rs 8,738 crore in the same quarter last year.
US-based GQG Partners has been allocated the highest number of shares, worth Rs 1,345 crore, while Fidelity Investments has invested about Rs 772 crore in Vodafone Idea's FPO.
Vodafone Idea owes an estimated Rs 6,800 crore to mobile tower giant Indus Towers and also Rs 2,400 crore to ATC.
At the recently held 5G spectrum auction for 5G services by the Department of Telecom, Airtel acquired 19867.8 MHZ range in 900 MHz, 1800 MHz, 2100 MHz, 3300 MHz, and 26 GHz frequencies.
In a statement, the company said that it continues to invest in 4G to increase its coverage and capacity.
The regulator had shot off questions to the two operators, asking them to explain their position on the controversial issue and provide relevant data to substantiate their claims.
Company’s total income stood at Rs 10,714.6 crore, from Rs 11,549.5 crore reported in Q1 FY 2019-20.
The company had earlier deposited Rs. 6,854 crores in three tranches, the telco said in a BSE filing.
The latest development also comes as a relief to Bharti Airtel as well, which launched its Platinum plan, similar to Vodafone Idea’s RedX, last week.
Vodafone Idea and Bharti Airtel, on the other hand, lost 6.35 million and 1.26 million subscribers respectively in March, the data showed on Monday.
