Vodafone Idea reported a consolidated net loss of Rs 50,921 crore for Quarter 2 which is the highest ever quarterly loss reported by an Indian company. Bharti Airtel, on the other hand, posted a quarterly loss of Rs 28,450 crore.
The main reason for this is the ruling Supreme Court ordering telcos to pay government dues in the AGR case.
“The telecom sector is highly capital intensive with fast-changing technology cycles that require continuing investments. It is, therefore, extremely important that the industry remains viable to support the vision of Digital India, Accordingly, Airtel will appropriately increase price offerings in the month beginning December ” Bharti Airtel said in a statement.
Vodafone Idea limited had also said it would “suitably increase the prices of its tariffs” effective from December 1.
The exact details of the hike are not yet available. It will also be interesting to see if Jio too increases its prices or would still keep the same pricing. Jio had recently come under criticism for making calls to other networks chargeable even with unlimited calling plans.
Jio on Tuesday said in a statement said it would carry out an “appropriate” increase in tariffs which “does not adversely impact data consumption or growth in digital adoption and sustains investments”.
“Like other operators, we will also work with the government and comply with the regulatory regime to strengthen the industry to benefit Indian consumers and take measures including appropriate increase in tariffs in next few weeks in a manner that does not adversely impact data consumption or growth in digital adoption and sustains investments,” it said.