Business

Vodafone Idea Net Loss Widens to Rs 5,005 Cr in Q3

The Jio Effect continues to give severe competition to telecom companies in the country. In a recent report release by Vodafone-Idea, the country’s largest telecom company, the company has made revenues of Rs 11, 765 crore.

Comparable numbers are not available, since the company existed as two different Telecom entities before August. However it is estimated that the company has suffered a loss of Rs 5005 crore in the quarter.

However in a statement released by the Company CEO, Balesh Sharma, he has stated that the company is in track despite the losses and plans to continue with their stated strategies.

One of the first moves which the company had made was to remove customers who were not paying minimum recharge amounts. This move has increased the average revenue per user by 1.5% but has reduced the number of users by 3.5 crores.

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