⁍ Vodafone Idea subscriber base slipped to 271.8 million subscribers as of September-end from 311.1 million subscribers a year ago.
⁍ Vodafone Idea was saddled with gross debt of 1.16 trillion rupees, excluding lease liabilities, as of Sept. 30.
– India’s third-largest telecom operator, Vodafone Idea, is struggling to stay relevant in a highly competitive market, analysts say. The company, a joint venture between Vodafone Group and India’s Idea Cellular, had 271.8 million subscribers at the end of the second quarter, down from 311.1 million at the end of the same period last year, reports Reuters. Rivals have been offering higher tariffs and 4G services to attract new customers. “Vodafone-Idea seems to be struggling to stay relevant in today’s times,” an analyst at Forrester tells Reuters. “Unless Vodafone is able to change its direction … find its niche either in enterprise business or customers, it will continue to lose customers.” The company, which recently re-branded itself as Vodafone Idea, says it is evaluating various fund-raising options.
Source: https://www.reuters.com/article/vodafone-idea-results/update-2-vodafone-idea-posts-slight-slip-in-q2-revenue-on-subscriber-losses-idUSL4N2HK4CM