Vodafone Idea on Monday announced it will increase mobile service rates from December 1 in the wake of ongoing financial stress. “To ensure that its customers continue to enjoy world class digital experiences, Vodafone Idea will suitably increase the prices of its tariffs effective December 1,” the company said in a statement today. The debt-ridden company, however, did not disclose the range or details of the proposed tariff hike.
Vodafone-Idea (VIL) on Monday advanced nearly 18 per cent on the NSE over investors renewed interest in telecom stocks over a possible government-led revival. This came after Finance Minister Nirmala Sitharaman stated that the government doesn’t want any telecom company to shut operations.
Vodafone Idea last week reported consolidated loss of Rs 50,921 crore – highest ever loss posted by any Indian corporate – for the second quarter ended September 30, on account of liability arising out of the Supreme Court order in the adjusted gross revenue case.
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