Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Telecom services provider Uninor today said it expects Indian operations to make cash profits in the next two years, after it achieved break-even in 2013.
Vivek Sood, Chief Executive, Uninor, indicated the Norwegian firm may invest Rs 500 crore during the current year (January-December) towards capital expenditure.
“So far we have invested Rs 17,000 crore to Rs 18,000 crore in India which includes towards the licences which were cancelled (by a Supreme Court order in 2012). In a year or two we will be making cash profits positively, by 2016 or 2017,” he said.He was responding to media queries about profitability of the company.
He was responding to media queries about profitability of the company.
Uninor’s subscriber base, currently at 42 million, is expected to touch 50 million during the current year, he said.
“We don’t give our numbers on targets and forecast. We will continue to invest on our expansion. It would be pretty much as last year (Rs 500 crore). Original post at ET Telecom