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Monday
December 2018
12:54 AM IST
News Headlines
Trump's son-in-law Jared Kushner possible next chief of staff: US media        Sri Lanka PM Mahinda Rajapaksa to resign, says his son after court setback        Rahul Gandhi After Rafale Verdict: "Will Prove PM Helped Anil Ambani"        Author Amitav Ghosh Honoured With 54th Jnanpith Award        Supreme Court sees no wrongdoing in Rafale deal, rules out probe        India bowled a little bit short, Australia pacers could benefit: Border        ISL: FC Goa thrash NorthEast United 5-1        BWF World Tour Finals: PV Sindhu, Sameer Verma Register Easy Wins To Enter Semifinals        Diving legend says HIV-contracted friend inspired him to Olympic gold        India beat Pakistan to reach final of Emerging Teams Asia Cup        Boosting exports key to make India $5-tn economy by 2025: Kant        Prabhu, US Commerce Secretary to discuss trade issues on Feb 14        Ceasefire for key Yemen port agreed at peace talks: UN        Britain's May sees no 'immediate breakthrough' at EU        Poll results prove Ram Temple or communal polarisation doesn't cut ice with people: Sinha        Ashok Gehlot appeals to Cong workers in Raj to maintain peace        Rahul tweets pic with Kamal Nath, Scindia as race for CM moves to Bhopal        Aussies will fight back, but India has upper hand: Ghavri        World Tour Finals: Tough road ahead for Sindhu; Sameer too eyes knockout berth        Govt should consider 100% FDI in multi-brand retail trade: CII report        
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Business News
Telcos' pre-tax losses widen to Rs 38,153 cr in 2016-17
 
New Delhi, Mar 28 (PTI) Telecom companies' pre-tax losses widened to a staggering Rs 38,153 crore in the 2016-17 fiscal from Rs 1,699 crore in the preceding year, Parliament was informed today.

Also, 24 out of 50 companies reported losses before tax during 2016-17, the government said.

"Based on audited/unaudited information submitted by telecom service sector companies to TRAI, the profit-before-tax (PBT) for the telecom service sector companies has decreased from Rs (-) 1,699 crore for the financial year 2015-16 to Rs (-)38,153 crore for the financial year 2016-17," Sinha said in a written reply to the Lok Sabha.

"The government ensures healthy competition in telecom sector. Recently, TRAI has reiterated the regulatory principles of non-predatory, non-discrimination and transparency in tariff offers vide Telecommunication Tariff (63rd Amendment) Order, 2018 on February 16, 2018," Sinha said.

The note of minister's reply mentioned that the likelihood of a company getting into financial stress is high when the debt to Ebitda ratio is 4 times or above on a sustained basis.

As per data shared by Sinha, telecom major Airtel had the debt to Ebitda ratio of 3 times, Idea Cellular 5.8 times and Reliance Communications (RCom) 7.4 times.

In view of financial stress and market scenario, Idea Cellular opted for combining its wireless business with Vodafone and RCom decided to adopt strategic debt restructuring process.

Sinha said that bankruptcy petitions have been filed by Aircel and its subsidiaries before National Company Law Tribunal.

He said that during radiation audit by the vigilance arm of the Department of Telecom (DoT), it was revealed that most of the mobile towers of Aircel were switched off which led to non-generation of porting code and further causing great inconvenience of the customers.

"It has also been mentioned that the quality of service being offered to the customers is getting adversely affected... DoT has issued direction to M/s Aircel Limited on 19.03.2018 for compliance of various clauses of the agreement including those relating to customer services and quality of performance," Sinha said.


Boosting exports key to make India $5-tn economy by 2025: Kant
Prabhu, US Commerce Secretary to discuss trade issues on Feb 14
Govt should consider 100% FDI in multi-brand retail trade: CII report
Shaktikanta Das named new RBI Governor
Sensex cracks over 550 pts; Nifty drops below 10,600
India's coal output up 10% to 156 MT during Apr-Nov
Prabhu links creativity & business opportunities to cheap beverages in Goa
31st GST Council to meet on Dec 22 in Delhi
Cabinet Approves Policy to Double Farm Exports to $60 Billion by 2022
RBI keeps key rates unchanged
NTPC wins 85 MW solar capacity in UP Govt tender
Maintain status on currency management, HC tells SBI
Amway India enters herbal skincare space
New 2018 Maruti Suzuki Ertiga Launched In India, Prices Start At ? 7.44 lakh
Centre's New Move May Escalate Feud With RBI Ahead Of Board Meet: Report
Air India eyes Rs 800 cr from sale of over 70 properties
Intel India opens design house costing Rs 1,100 cr at B'luru
Sensex rebounds 332 pts on easing crude, rupee gains
Govt mulls second round of 2,500 MW medium-term PPA auction
India invites Swedish companies to explore investment opportunities
KERALA NEWS
Activist Rehana Fathima, Who Attempted Sabarimala Trek, Arrested Over Facebook Post
 (Kochi, Nov 28, 2018): Model and activist Rehana Fathima, who tried to reach Kerala's Sabarim  
Good news for Keralite Nurses: IELTS cut-off reduced to 6.5
BJP leader K Surendran, 71 others granted bail
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
INTERNATIONAL NEWS
Trump's son-in-law Jared Kushner possible next chief of staff: US media
 (Washington, Dec 14, 2018):Donald Trump's son-in-law and senior adviser Jared Kushner is on t
Sri Lanka PM Mahinda Rajapaksa to resign, says his son after court setback
Ceasefire for key Yemen port agreed at peace talks: UN
Britain's May sees no 'immediate breakthrough' at EU
NATIONAL NEWS
Rahul Gandhi After Rafale Verdict: "Will Prove PM Helped Anil Ambani"
 (New Delhi, Dec 14, 2018):Hours after the Supreme Court's clean chit to the government on the
Author Amitav Ghosh Honoured With 54th Jnanpith Award
Poll results prove Ram Temple or communal polarisation doesn't cut ice with people: Sinha
Ashok Gehlot appeals to Cong workers in Raj to maintain peace
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