According to official data, the telecom sector's gross revenue fell about Rs 41,000 crore in three years on account of a dip in mobile services rates.
Operating profit of Bharti Airtel, Vodafone Idea to increase by Rs 7,000- 9,500 crore
Reliance Jio with lowest gross revenue of Rs 15,945.62 crore among private operators paid highest revenue to the government, the data showed
Over 146 crore shares of Vodafone Idea were traded on the NSE and more than 11 crore on the BSE
After reporting massive losses in the second quarter after an adverse Supreme Court ruling on adjusted gross revenue issue, the companies decided to increase data charges
SIM consolidation, inferior network and negative free cash flows even after hike are the key worries for the market
Vodafone Idea and Bharti Airtel have announced to raise mobile calling and data rates from December 3
Bharti Airtel has placed a bid of around Rs 1,800 crore for the same, according to the sources
Vodafone Idea this month booked a $7 billion quarterly loss, the biggest in Indian corporate history, in large part due to provisions for payments owed
The company has a valuation of Rs 2.22 trillion, up from Rs 1.33 trillion a year ago
Bharti Airtel, Vodafone Idea, and Jio had urged the government to reduce the price, following which the matter went to the regulator for a review.
Telcos have reduced their tariffs so much that they earn only Rs 75 per user per month, nationally
We will not interfere in their decision to raise tariffs but if the consumer is affected due to the increase we will intervene, says a senior DoT official
The net worth of Birla has shrunk to about $6 billion from $9.1 billion two years ago
This comes soon after all three private telecom operators announced they were raising mobile phone tariff
Foreign brokerage Credit Suisse believes that Jio's tariff hike could bring an annual cash flow in excess of $1.5 billion
Telecom players including Airtel and Vodafone Idea had sought some relief from the telecom sector
Earlier this week, Reliance Jio, Airtel and Vodafone all announced tariff hikes to be effective from next month
In anticipation of the tariff hike, Reliance Industries' market cap crossed the Rs 9.5-trillion mark on Tuesday
Jio reported adding 698,3146 subscribers in Sept , the lowest since it added 6.1 mn in Nov 2017