CEO Balesh Sharma of Vodafone Idea: industry is bleeding

1

Sharma’s comments came on a day Vodafone Idea (IDEA) chairman Kumar Mangalam Birla again met telecom secretary Aruna Sundararajan.

Birla had recently met senior government officials as well, to discuss severe cash crunch in the sector and seek a deferral on some spectrumrelated payments due in March.

Vodafone Idea, which reported its first quarterly results last week, clocked an ARPU of Rs 88 compared with Bharti Airtel’s Rs 101 and Jio’s Rs 131. It posted a net loss of Rs 4,974 crore with operating margin of 8.1% and a net debt of Rs 112,500 crore.

Sharma said it wasn’t just Vodafone Idea but the whole industry that was suffering. He expects better times in the hope that customers who paid high tariffs for fewer services won’t mind paying a bit more in future for better services.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here