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…
Uninor, the Indian unit of Norway’s Telenor ASA, posted a higher operating loss of NOK 195 million (Rs 180.5 crore approx) in the third quarter of 2014, compared with NOK 143 million (Rs 132.4 crore approx) a year earlier as higher investments in network expansion ate into robust revenue growth.
Loss before interest, tax, depreciation and amortization, other income and expenses at NOK 136 million (Rs 126 crore approx) was a tad narrower than NOK 140 million (Rs 129.6 crore) in the year-ago period. But it is still higher than NOK 106 million reported in the second quarter, this year.
“A step-up in network coverage expansion (in India), which saw 3100 new sites launched during the third quarter, resulted in increased operating expenditure and capital expenditure,” Telenor said in its website Wednesday. This is reflected in a sharply higher capex outflow of NOK 997 million (Rs 923.2 crore) from a paltry NOK 52 million (Rs 48.1 crore) a year ago. Original post at ET Telecom