pakistan
Vodafone Idea posts surprise fourth-quarter profit
Key takeaways
- Add ARY News on Google AAResize Indian telecoms operator Vodafone Idea reported an unexpected fourth-quarter net profit on Saturday after receiving a 430 crore rupees ($500 million) investment from Aditya Birla Group.
- The company posted consolidated profit after tax of 519.76 billion rupees ($5.42 billion) in the three months to March 31.
- Earlier this year, the Indian government capped Vodafone Idea’s adjusted gross revenue dues at $13.79 million annually for the next six years, easing near-term cash flow pressure for the firm.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Indian telecoms operator Vodafone Idea reported an unexpected fourth-quarter net profit on Saturday after receiving a 430 crore rupees ($500 million) investment from Aditya Birla Group.
The company posted consolidated profit after tax of 519.76 billion rupees ($5.42 billion) in the three months to March 31. Analysts had expected a loss.
Earlier this year, the Indian government capped Vodafone Idea’s adjusted gross revenue dues at $13.79 million annually for the next six years, easing near-term cash flow pressure for the firm.
Article preview — originally published by ARY News. Full story at the source.
Read full story on ARY News →
More top stories
Aggregated and edited by the Scoop newsroom. We surface news from ARY News alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop