VODAFONE IDEA POSTS Q3 LOSS OF ₹5005 CRORE AS TARIFF WARS CONTINUE

Vodafone Idea Ltd’s consolidated net loss widened marginally in the fiscal third quarter, underscoring a brutal tariff war with Reliance Jio Infocomm Ltd. India’s largest telecom operator by subscribers as well as revenue also posted a 2.2% sequential drop in revenue in the three months through December. Vodafone Idea incurred a net loss of ₹5,004.6 crore last quarter, compared with ₹4,973.8 crore in the preceding quarter. The figure was, however, narrower than analysts’ forecast of a loss of ₹5,256 crore by Refinitiv Eikon data, according to a Reuters report. The company said pricing plans on both brands Vodafone and Idea have been harmonized and integration of the distribution channels, retail footprint and customer service operations is expected to be completed shortly.