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Vodafone Idea hit an all-time low of Rs 36.80 on worries of weak September quarter earnings, additional subscriber losses and the question of funding additional capital expenditure given the high debt and loss-making operations.
What will make the situation worse for the company is the sharp depreciation of the rupee which increases outgo on foreign-denominated loans as well as equipment imports.
The near-term trigger for India’s largest telecom operator with a subscriber market share of 40.6 per cent would be the September quarter’s numbers. The merged entity is expected to report a single-digit operating profit margin of 9.2 per cent compared to
