It’s been over a year since Reliance Jio Infocomm Ltd started commercial services, but India’s telecom firms are still suffering the consequences of its aggressive launch. Idea Cellular Ltd reported a 19.7% year-on-year (y-o-y) drop in revenue for the September quarter, and its Ebitda fell 47.1% to Rs1,502 crore. Vodafone India Ltd reported a 17.8% drop in y-o-y revenue and a 41% drop in Ebitda. Vodafone’s net debt to Ebitda ratio isn’t much lower at 8 times, based on annualized profit for the September quarter. Even so, the wireless business reported a 17% y-o-y drop in revenue and a 33% drop in Ebitda.

Source: Mint November 23, 2017 20:26 UTC