Vodafone's India venture reports third-quarter loss

Vodafone's India venture reports third-quarter loss

REUTERS: Vodafone Idea Ltd on Thursday reported a sixth straight quarterly loss, as the troubled Indian mobile carrier shed millions of mobile subscribers.

The company posted a loss of 64.39 billion Indian rupees (US$903.48 million) in the three months ending Dec. 31, compared with a loss of 50.05 billion rupees a year earlier. (http://bit.ly/2Hn28y6)

The quarterly results come as Vodafone Idea and other Indian telecom firms are pressured by government demands to pay US$13 billion in overdue levies in a long-contested dispute.

Vodafone Idea had reported a loss of 509.22 billion rupees in the second quarter of 2019, the biggest loss ever by a company in Indian corporate history.

(Reporting by Philip George in Bengaluru; Editing by Shounak Dasgupta)

Source: Reuters