Vi’s ceo(Chief Financial Officer) Akshay Mandura says that there is no need for 3G in the country after the trend of 4G.
The entire focus of Vodafone Idea i.e. Vi is now on 4G service, in this case the company is preparing to discontinue its 3G service this year. Voda-Idea has mentioned this thing on Monday. At the same time, Vi’s 2G service will not be discontinued, that is because the basic users of Voda-Idea are in large numbers in the country.
Vi’s CFO (Chief Financial Officer) Akshay Mandura says that after the trend of 4G, there is no need for 3G in the country. Till now we had continued this service because many users’ phones were only supporting 3G service, we still have 1.1 crore 3G customers. He said that the country is expected to completely stop Vodafone Idea’s 3G service by 2022.
Decline in company shares
The VIL board has also approved a proposal to raise Rs 25,000 crore through letter of credit and share capital. According to the company’s management, the work of raising this fund will also be completed soon. Many investors have come forward for this scheme. However, on Monday, the company’s stock fell 3.7% on the BSE and closed at Rs 12.08.
14.9 crore 2G customers of Vi
Vodafone Idea has 26.8 crore customers across the country, out of which 149 million customers use 2G service. In such a situation, the company intends to continue the 2G service. In contrast, Reliance Jio is providing only 4G services to its customers. At the same time, Airtel is currently offering all services of 2G, 3G and 4G, with a total of 30.8 crore subscribers.
Company’s consolidated loss of Rs 4,532.1 crore
Debt-ridden Vodafone Idea reported that its consolidated loss stood at Rs 4,532.1 crore for the third quarter ended December 31, 2020. A one-time income from selling shares of Indus Towers has limited its losses. The company reported a loss of Rs 6,438.8 crore in the same quarter a year ago.
Vodafone Idea Limited (VIL) sold its 11.15 per cent stake in Indus Towers after merging it with Bharti Infratel for Rs 3,760 crore. The company reported an income of Rs 10,894 crore this time as compared to Rs 11,089.4 crore operating income in the same quarter a year ago. It shows a 1.7 percent decline.
