19
Thursday
April 2018
9:19 PM IST
News Headlines
Nawaz Sharif, daughter leave for London        Former US first lady Barbara Bush dead at 92        Manmohan Singh on Kathua, Unnao rape cases: ‘PM Narendra Modi should follow own advice to me, speak more often’        Kathua rape ‘barbaric’, says President Kovind        KKR breach Rajasthan fortress at Jaipur, beat RR by 7 wickets        Virat Kohli downbeat despite smashing IPL run record        BJP ministers in J&K government asked to resign, to be replaced with new faces        Banks are unable to meet the demand for cash, says ATM industry        India, Sweden to enhance cooperation in defence, cyber security        Castro set to step aside as Cuban president, his reforms incomplete        Mumbai outplay Bangalore in IPL tie        Kolkata Police summons cricketer Mohammed Shami in domestic abuse case        10-man Bengaluru FC thrash Mohun Bagan to set up Super Cup final with East Bengal        Countrywide protests demanding justice in Kathua and Unnao rape cases        Former FBI director James Comey makes shocking claims about Trump        Prince Harry, Meghan Markle to work as Commonwealth youth ambassadors        Manchester City crowned Premier League champions as?Manchester United drop points        IPL-2018: KKR canter to 71-run win over Delhi        Watch Video: Mumbai Indians vs Delhi Daredevils / Pre-match analysis        Putin: attack on Syria act of aggression        
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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.


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KERALA NEWS
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INTERNATIONAL NEWS
Nawaz Sharif, daughter leave for London
 (Islamabad, Apr 18, 2018):Former Pakistan Prime Minister Nawaz Sharif and his daughter Maryam
Former US first lady Barbara Bush dead at 92
India, Sweden to enhance cooperation in defence, cyber security
Castro set to step aside as Cuban president, his reforms incomplete
NATIONAL NEWS
Manmohan Singh on Kathua, Unnao rape cases: ‘PM Narendra Modi should follow own advice to me, speak more often’
 (New Delhi, Apr 18, 2018):Hitting out at Prime Minister Narendra Modi for his long silence ov
Kathua rape ‘barbaric’, says President Kovind
BJP ministers in J&K government asked to resign, to be replaced with new faces
Pakistan violates ceasefire in J-K's Rajouri
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