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Vodafone Idea to report a sizeable loss in September quarter, say analysts
Posted on 13th November 2018
MUMBAI: Vodafone Idea, India’s newest and largest telecom operator, will on November 14 announce its first results since its inception, with analysts predicting a sizeable loss in its fiscal second quarter ended September 30, dragged down by low subscriber additions and rising 4G network expansion costs.

Brokerages IIFL Institutional Equities and ICICI Securities have pegged Vodafone Idea’s estimated net loss at around Rs 2,600 crore, though Credit Suisse has projected a lower number of Rs 1050.5 crore. Revenue is estimated to be in the range of Rs 7,813-8,106 crore for the September quarter.

The telco is also expected to shell out penalty charges to the tune of Rs 3,000-3,500 crore for exiting tower contracts which will add to its financial burden. “The company’s capex investments, plans of revenue growth, investor guidance and provisions for bad debt and its 4G expansion chart will be closely tracked,” said Sandip Das, senior advisor at Analysys Mason.

He further said that industry watchers will also need to keep in mind that the merger has just been completed and the company is still in the “regrouping phase”. Vodafone India and Idea Cellular completed their merger in August end this year to create the country’s largest telco by subscriber base and revenue share. But in September, amid a continuing price war with Reliance Jio, Vodafone and Idea separately lost 2.6 million and 4 million subscribers, respectively, according to Cellular Operators Association of India (COAI) data.

As per earlier estimates, the new entity had started its operations with a combined debt of Rs 1.09 lakh crore at the end of June, and a cash balance of Rs 19,300 crore after equity infusion by the parents of both telcos.

“The synergy benefits from the merger, absolute profit before tax (PBT) and how it has fared compared to competition will be important,” said SP Tulsian, founder of Premium Investments. Bharti Airtel its fourth straight profitable quarter, with an 11.3% expansion sequentially in the bottom line for the July-September period on the back of strong user additions and increased data usage.

But Airtel managed to spring a surprise net profit on a consolidated basis in the second quarter, helped by one-time exceptional gains, but losses worsened for India operations as higher costs compounded the woes for the erstwhile market leader which also lost customers in a fierce price war with Jio.

Related Companies: IDEA Cellular Limited   

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Uber Eats may sell Indian biz to Swiggy by March, keep 10% stake: Report
Posted on 22nd February 2019
Uber Eats, the food delivery arm of ride-hailing app Uber Technologies Inc, is close to a deal to sell its Indian business to Bengaluru-based Swiggy, the Economic Times reported on Friday.

The share-swap deal is expected to close by next month and will give Uber a 10 percent stake in food delivery service Swiggy, the paper said, citing people privy to the development.


Samsung S10+ to hit Indian shelves from Mar 8 priced Rs 73,900 onwards
Posted on 22nd February 2019
Buyers of Samsung’s Galaxy S series of premium smartphones will have to shell out close to Rs 1.18 lakh to get their hands on the top-end model of the device that starts selling in India from March 8.

Samsung had launched three models - Galaxy S10+, Galaxy S10 and Galaxy S10e - in San Francisco on February 20. These flagship devices will compete head-on with Apple’s iPhone that is seeing sales slowdown in many markets, including China.


GMR, Terna sign agreement for new airport in Greece; to invest 500 mn euros
Posted on 22nd February 2019
GMR Infrastructure on Friday said its subsidiary GMR Airports and its Greek partner Terna Group have signed a concession agreement for construction of the new international airport in Greece's island Crete.

The consortium intends to invest over EUR 500 million (approx Rs 4,034.28 crore) for development of the new airport, GMR Infrastructure said in a regulatory filing.


Petrol prices hiked to Rs 71.29 in Delhi; check latest price for metros
Posted on 22nd February 2019
Oil marketing companies hiked the price of petrol by 14-15 paise and that of diesel by 16-18 paise a litre the major metros on Friday. In Delhi, petrol prices were hiked by 14 paise to Rs 71.29 a litre as against Rs 71.15 yesterday. One litre of diesel can be purchased for Rs 66.48 in the national capital. In case of Mumbai, one litre of petrol can be purchased for Rs 76.93 up from Rs 76.79 per litre, implying a 14 paise hike.

The diesel cost has been raised to 69.63 in the financial capital. In Kolkata, one litre of petrol is retailing at Rs 73.39, while diesel can be bought for Rs 68.27. In Chennai petrol prices have been hiked to Rs 74.02, while consumers will now have to pay Rs 70.25 in Chennai. The revised rates are applicable from 6 am on Friday morning.


Bata India hits record high; stock zooms 50% in 4-months
Posted on 22nd February 2019
Shares of Bata India hit a new high of Rs 1,301 apiece, up 1 per cent on the BSE, surging 50 per cent in past four months after it reported a strong earnings growth in December 2018 (Q3FY19) quarter and foreign portfolio investors buying. In comparison, the S&P BSE Sensex was up 6 per cent during the same period.

Thus far in the calendar year 2019 (CY19), Bata India has outperformed the market by gaining 15 per cent, against unchanged benchmark index. In CY2018, it soared 52 per cent, as compared to a 6 per cent rise in the Sensex.


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