Airtel is estimated to report a near 80% on-year fall in net profit, while Idea is slated to report a loss for the fourth successive quarter of Rs 1,166 cr.
The Anil Ambani-led telco, mired in Rs 47,000 crore of debt, shrinking revenue and mounting losses, informed its wireless business employees that November 30 will be their last day of employment.
Senior ATC executives, and their counterparts in Idea and Vodafone India, are camping in Mumbai, finalising the contours of the deal.
Telecom Secretary Aruna Sundararajan has indicated that the draft New Telecom Policy 2018 will be unveiled by December for comments from stakeholders and likely introduced by March 2018.
Jio has forced older operators to slash rates to retain users at the cost of severe financial pressure. Now, these incumbents have some leeway to hike rates.
Consolidation alone won’t bring immediate relief amid continuing price wars with the Voda-Idea & Airtel’s acquisitions of Tata Tele likely to be completed by next yr.
Edelweiss estimates Jio will sustain its Ebitda break-even in FY18 and report a net profit in FY19.
Last month, the Telecom Commission, on the suggestions of an interministerial group (IMG), increased the tenure for spectrum auction payments to 16 years from 10.
Analysts predict a spike in numbers for number 1 and number 3 telcos due to the combination of 18% GST, seasonal weakness and price erosion.
The US brokerage attributes the impact on Idea to its "higher proportion" of rural subscribers.
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