 "The immediate priority of the merged entity will be to consolidate its position across the range of service offerings")
Shares of Vodafone Idea dipped 6% to Rs 35.60 per share on the BSE after the rating agency CRISIL downgraded its rating on non-convertible debentures (NCD) of Rs 60 billion.
“The downgrade reflects continued pricing pressure in the mobile telephone industry, leading to weak operating performance of Voda-Idea. The company reported pro-forma earnings before interest, tax, depreciation, and amortisation (EBITDA) of Rs 23.49 billion for the first half of fiscal 2019, against a pro-forma EBITDA of Rs 119.08 billion for the full year of fiscal 2018. Synergy benefits of the merger are expected to improve the EBITDA over the
“The downgrade reflects continued pricing pressure in the mobile telephone industry, leading to weak operating performance of Voda-Idea. The company reported pro-forma earnings before interest, tax, depreciation, and amortisation (EBITDA) of Rs 23.49 billion for the first half of fiscal 2019, against a pro-forma EBITDA of Rs 119.08 billion for the full year of fiscal 2018. Synergy benefits of the merger are expected to improve the EBITDA over the
