In its earnings call, the telco discussed issues related to subscriber decline, fundraising, liabilities, and a review petition filed by Vi in the AGR dues case before the Supreme Court of India. Key Highlights "On fund raising, the company is currently in active discussion with potential investors," Vodafone Idea said in its press release for earnings this quarter, indicating it still doesn't have concrete pathways to funding to pull it back from financial precarity. Data usage among 4G users stood at 14.6GB per user per month in the Q1FY22 quarter, compared to 12.8GB per month in the previous quarter. Strapped for cash, the telco is seeking to achieve annualised savings of Rs 4,000 crore in cost-saving measures. Revenue dipped 4.7% QoQ to Rs 9,150 crore, with the company blaming the COVID-19 lockdown and restrictions thereof. Net loss widened to Rs 7,319 crore. Vodafone Idea continues to post dismal numbers as it faces an existential risk. Rumours swirled after the company released its results that it had defaulted on license fee dues; a spokesperson denied this, saying that the fees had been paid. The company's precarious financial situation has led even competitor Airtel to worry about the telecom market's competitiveness, and led to the three private players to jointly ask the government for financial relief. Without a significant change in the market, whether it is tax relief or investment in the troubled telco, the market may be at the brink of becoming a two-player industry. Notes from earnings call Subscriber decline…
- Is age-verification the answer to protecting children from online harms? #NAMA March 30, 2023
- Here are 6 ways the Indian government is collecting your facial data March 30, 2023
- India’s telecom regulator Directs Telcos to Report Major Network Outages March 30, 2023
- No report available on economic cost of internet shutdowns in India: Telecom Dept in Parliament March 30, 2023
- MediaNama Daily: Fraud vs Fintech March 30, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...