Vodafone Idea Ltd., India’s number three wireless phone operator, posted another quarter of losses as rivals lured away customers amid cut-throat competition in the sector.
The Mumbai-based joint venture between Vodafone Group Plc and Indian billionaire Kumar Mangalam Birla’s conglomerate posted a higher-than-expected loss 73.2 billion rupees ($986 million) for the quarter through June, compared with a 254.6 billion-rupee loss in the same period last year, according to an exchange filing Saturday. Revenue fell 14% to 91.5 billion rupees.
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August 14, 2021 at 09:45PM
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Vodafone Idea Posts a Loss Again as Rivals Lure Away Users - Bloomberg
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