Vodafone Idea MD and CEO Ravinder Takkar during the earnings call said that the minimum price of Rs 99 is not an expensive proposition for those who are using 4G services.
The company had posted a loss of Rs 4,532.1 crore in the same period a year ago.
The company said its net debt stands at Rs 1.989 lakh crore as of December end.
Govt having stake in lieu of AGR & spectrum dues may give short-term relief, say experts
Post conversion of the liabilities, the government is projected to have a 35.8 per cent stake in Vodafone Idea and around 9.5 per cent shareholding each in Tata Teleservices (M) and Tata Teleservices.
While addressing press managing director and chief executive officer Ravinder Takkar said that the government has no desire to run Vodafone Idea. In fact, it wants its promoters to run it.
Telcos' debt liability will remain post conversion of interest dues into equity: Telecom Minister Ashwini Vaishnaw
Debt-ridden VIL, Tata Teleservices and Tata Teleservices Maharashtra have proposed to convert interest liabilities payable to the government into equity.
Addressing the press, managing director and chief executive officer of Vodafone Idea Ravinder Takkar categorically said the government doesn’t want a duopoly in the telecom sector
The company's total gross debt, excluding lease liabilities and including interest accrued but not due, as of September 30, 2021 stood at Rs 1,94,780 crore.
VIL has decided to opt for converting about Rs 16,000 crore interest dues liability payable to the government into equity which will amount to around 35.8 per cent stake in the company.
Following the decision, the government will hold around 35.8 per cent shares, the promoter shareholders would hold around 28.5 per cent of Vodafone Group and 17.8 per cent Aditya Birla Group.
As per telecom regulatory data, Airtel has market shares to 30.35% while Vi has 23.07% and Jio has 36.58% in October.
In November, all the major Indian telcos — Bharti Airtel, Reliance Jio and Vodafone Idea — hiked prepaid tariffs by 20% to 25%.
The total wireless subscribers increased from 1,166.02 million at the end of September to 1,166.30 million at the end of October, registering a growth of 0.02%.
Up to 25% hike in pre-paid tariffs will hurt users, slow down digital inclusion, say experts