Vodafone Idea’s consolidated loss in the April-June quarter of the current financial year narrowed slightly to Rs 7,296.7 crore on a year-on-year basis. Company’s earnings have increased due to increase in duty rates
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Debt-ridden Vodafone-Idea Limited (VIL) believes that the charges for 5G data plans will be kept higher as compared to 4G services. Ravinder Takkar, managing director and chief executive officer of VIL, said in a call to investors that the company has made a huge investment for the recently held 5G spectrum auction. Therefore, higher charges should be kept for the data plan of 5G services. He expressed hope that charges for all types of telecom services will be hiked by the end of this year.
Service will be expensive due to high cost
Takkar said that a lot of money has been invested in the 5G auction. We believe that the charges for 5G services should be kept higher than 4G. You can call it like premium. Vodafone Idea had earlier said after the completion of the 5G auction that it would continue to invest in future-ready networks to upgrade it to launch 5G services. VIL bought spectrum worth Rs 18,799 crore in 5G auction. VIL had said in a statement that it participated in the spectrum auction to strengthen its pan-India 4G network and to embark on its 5G journey in the country with a long-term vision. The third largest telecom company after Reliance Jio and Bharti Airtel said that we have acquired mid-band 5G spectrum (3300 MHz band) in 17 of our priority circles and mmWave 5G spectrum (26 GHz band) in 16 circles.
reduction in losses
Telecom company Vodafone Idea’s consolidated loss stood at Rs 7,296.7 crore on a year-on-year basis in the April-June quarter of the current financial year. The company’s earnings have increased due to increase in duty rates. The company’s operating income grew by about 14 per cent to Rs 10,410 crore in the quarter. Vodafone Idea’s Average Earnings Per Customer (ARPU) stood at Rs 128, up 23.4 per cent for the quarter ended June 2022. A year ago it was Rs 104 in the same quarter of 2021-22.