Airtel posts a massive net loss of ₹2,866 crore, as pressure from Reliance Jio rises

[rahul1117kumar]

Bharti Airtel has posted a loss of ₹2,866 crores for the first quarter of the current financial year. In the same quarter last year, Airtel had posted a profit of ₹97 crore.

However, the company also reported a consolidated total revenue of ₹20,738 crore, which is up by 4.7% since last year .The company said that it is working on improving network coverage. “We re-farmed spectrum from 3G networks to 4G across both the 900 as well as 2100 bands and begun the process of shutting down 3G networks in India. This has enabled us to deliver improved indoor coverage as well as enhance our capacities,” said Vittal.

Airtel posts a massive net loss of ₹2,866 crore, as pressure from Reliance Jio rises - Businessinsider India on Mobile

 

[Advik]

Shutting down 3g is a good idea.

 

[iqbal008]

I think things will change when VOWifi start penetrating.

 

[d5aqoep]

I find it baffling that companies like Airtel, Idea and Vodafone did not anticipate Jio's entry. I mean it was visible from the distance that motabhai was coming with full speed, yet they kept on giving out foolish statements like "India is not ready for 4G", "Cost of data is too high", etc etc. It barely took 2 years and now they are caught with their pants down. Even today, no one has 60 GB Rs999 plan or bulk data packs to match Jio. Why do they treat data as some kind of forbidden treasure? Their financial results and stock price are there for everyone to see. VIL is trading at 6-7 rupees which is equivalent to being a penny stock.

 

[iqbal008]

I find it baffling that companies like Airtel, Idea and Vodafone did not anticipate Jio's entry. I mean it was visible from the distance that motabhai was coming with full speed, yet they kept on giving out foolish statements like "India is not ready for 4G", "Cost of data is too high", etc etc. It barely took 2 years and now they are caught with their pants down. Even today, no one has 60 GB Rs999 plan or bulk data packs to match Jio. Why do they treat data as some kind of forbidden treasure? Their financial results and stock price are there for everyone to see. VIL is trading at 6-7 rupees which is equivalent to being a penny stock.

On humor side, mota bhai can recover the amount from other side .........but these cos cannot
I left with ........ so smart guys can figure it out.

 

[Rajkumar]

https://twitter.com/x/status/1194978293612711938

Source