19
Wednesday
December 2018
10:14 PM IST
News Headlines
China will not seek to dominate; no one is in position to dictate us: Xi        Stopped earlier, four transwomen offer prayers at Sabarimala        India crash to 140 all out, Australia level series        Zaheer Khan Joins Mumbai Indians as Director of Cricket Operations        Indian national Hamid Ansari returns home after 6 yrs        Stalin proposes Rahul as next Prime Minister        Chief Minister Kamal Nath Waives Farm Loans, 2 Hours After Taking Oath        Pakistan releases Indian prisoner Hamid Nihal Ansari after 6 years        Philippines contestant Catriona Gray named Miss Universe        India vs Australia, 2nd Test: Visitors end Day 4 on 112/5, need 175 more runs to win        Mumbai: 5 dead, over 100 injured after massive fire breaks out at Andheri hospital        Prithvi Shaw ruled out of Australia Test series, Agarwal replaces him        Messi leads Barcelona to 5-0 win over Levante        Sri Lanka: Ranil Wickremesinghe takes oath as PM after SC verdict on crisis        Cambodia seizes record 3-tonne haul of African ivory        PV Sindhu scripts history, clinches maiden BWF Tour Finals title        Virat Kohli slams record-breaking 25th Test ton in Perth        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"        
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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
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
China will not seek to dominate; no one is in position to dictate us: Xi
 (Beijing, Dec 19, 2018):Chinese President Xi Jinping on Tuesday vowed that his country will n
Pakistan releases Indian prisoner Hamid Nihal Ansari after 6 years
Philippines contestant Catriona Gray named Miss Universe
Sri Lanka: Ranil Wickremesinghe takes oath as PM after SC verdict on crisis
NATIONAL NEWS
Indian national Hamid Ansari returns home after 6 yrs
 (New Delhi,Dec 19,2018):Indian national Hamid Nehal Ansari, who was arrested eight years back
Stalin proposes Rahul as next Prime Minister
Mumbai: 5 dead, over 100 injured after massive fire breaks out at Andheri hospital
Rahul Gandhi After Rafale Verdict: "Will Prove PM Helped Anil Ambani"
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