3 major business have really published huge losses in the March quarter. Vodafone Idea, SpiceJet, and Coffee Day released their results recently. Vodafones stock has fallen 11% today due to this loss.
Vodafone Ideas profits of Rs 9,607 crore
Vodafone Idea specified that it had a loss of Rs 7,023 crore in between March quarter i.e. January to March. Its overall earnings throughout this period has in fact been Rs 9,607 crore. Its loss in the December quarter was Rs 4,540 crore while revenues was Rs 10,894 crore. In reality, the number of customers of the business is continuously reducing and at the exact same time, it has really also quit working to raise funds. Last September, it had really revealed to raise Rs 25,000 crore.
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1.79 lakh crore loan
Vodafone Idea has a net financial commitment of Rs 1.79 lakh crore. In addition to this, it likewise requires to give AGR of Rs 60,960 crore to the Telecom Department i.e. Adjusted Gross Revenue in the next 10 years. It is the only telecom organization in the nation which is at a loss. Apart from this, two service Reliance Jio and Bharti Airtel stay in profit. Coffee Day has sustained a loss of Rs 272 crore. Its earnings fell 69% to Rs 165 crore. Revenues in the extremely same duration a year earlier was Rs 533 crore. Whereas a revenue of Rs 554 crore was shown. The business holding company Sikal Logistics has actually sustained a loss of Rs 151 crore.
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Its loss in the December quarter was Rs 4,540 crore while earnings was Rs 10,894 crore. Coffee Day has really sustained a loss of Rs 272 crore.
The air travel sectors SpiceJet has sustained a loss of Rs 998 crore.
SpiceJets loss of 998 crores
The air travel sectors SpiceJet has in fact incurred a loss of Rs 998 crore. With this, the company has in fact also exposed to raise Rs 2,500 crore. Flight business are sustaining losses
Jet Airways similarly losses.
Jet Airways, which has actually been closed for many years, has actually reported a loss of Rs 153 crore. He has informed this loss of in 2015 i.e. March 2020. In 2019-20, it had really revealed a loss of Rs 2,844 crore.
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Its loss in the December quarter was Rs 4,540 crore while revenues was Rs 10,894 crore. The business holding business Sikal Logistics has really sustained a loss of Rs 151 crore.
Its loss in the December quarter was Rs 4,540 crore while income was Rs 10,894 crore. Coffee Day has really sustained a loss of Rs 272 crore. The aviation sectors SpiceJet has really incurred a loss of Rs 998 crore.