UK-Based Vodafone Posts EUR 7.8 Billion Losses for H1 2018

British telecom major Vodafone posted a loss of 7.8 billion euros for the first half of 2018 due to a loss of 3.4 billion euros on the disposal of its Indian arm and impairment charges related to investments in Spain and Romania. The company had posted a profit of 1.2 billion euros in the same period of 2017. “Six months ended September 30, 2018, includes 3.5 billion euro of impairment charges in respect of the Group’s investments in Spain, Romania and Vodafone Idea and a 3.4 billion euro loss on the disposal of Vodafone India,” Vodafone said in a statement.

vodafone-losses-h1-2018

Vodafone Idea now operates as a merged entity with Aditya Birla group’s telecom arm Idea Cellular. The merger completed in August. “Vodafone India has been excluded from Group figures for all periods up to August 31, 2018, and the results of Vodafone Idea have been included in all Group figures for all periods thereafter unless otherwise stated,” the British telecom firm said.

Vodafone group’s financial numbers included the July-August performance of Vodafone India. The Indian arm of the group registered 955 million euro revenue from services during the two months.

Vodafone owns a 45.2% stake in Vodafone Idea and Aditya Birla Group owns a 26% stake. The revenue of the Vodafone group declined by 5.5 per cent to 2.17 billion euros at the end of the reported period compared to 2.3 billion euros it registered a year ago.

Vodafone said that the market environment in India remains highly challenging with significant pricing pressure, which has led to industry consolidation but a significantly lower level of profitability and greater pressure on financing.

“Management continues to consider it reasonable to assume an overall market and pricing recovery, however, the timing and magnitude remain highly uncertain,” it said.

Reported By

Leave a Reply

6 Comments on "UK-Based Vodafone Posts EUR 7.8 Billion Losses for H1 2018"

 

Sort by:   newest | oldest
Abhay Sikar rajasthan
November 13, 2018 5:55 pm 5:55 PM

My Vodafone numbers r reflecting validity as 18 Nov, 27nov, 28 Nov, respectively
Why validity has been cut short

Nikhil Mumbai-Pune
November 13, 2018 8:00 pm 8:00 PM

To throw you out of their network. If the network is good at your place,you can continue using Vodafone as your primary number or else port it to Jio.

Ashok
November 13, 2018 5:45 pm 5:45 PM

They spend hell lot in advertising,not preparing for 4G & 3G capabilities..Which didn’t last long after the entrance of Jio all 4G,and that give power for data hungry Indian customers.To either turn off the secondary slot as after Jio mature its network consistency,people just forget to recharge there second sim,who use it for calling purpose and 20rs max In 2-3 months..This woes gonna last long till people make a mindset to either quit jio & move to vodafone idea as they lost data customers at significant amount after poor speed and coverage..

Nikhil Mumbai-Pune
November 13, 2018 8:01 pm 8:01 PM

Jio hardly works in Mumbai-Pune for me. Vodafone-Idea works great for me in Mumbai and Pune respectively.

Ishann
November 14, 2018 9:10 am 9:10 AM

Same was the case with me earlier ,but now during the day i am able to get 25 to 30 mbps during peak time on jio ,can you tell me how did this happened?

Nikhil Mumbai-Pune
November 14, 2018 2:36 pm 2:36 PM

I don’t know what’s the reason. I am yet to achieve these speeds in Mumbai atleast. Sometimes I get these speeds in outskirts of Pune but Airtel there gives more than that. Why should I stay on Jio if it is not providing speeds?

wpDiscuz