BREAKING: Airtel to hike mobile service rates in December
Airtel on Monday said it will start increasing rates for mobile services in December. The telecom sector is highly capital intensive with fast changing technology cycles that require continuing investments and therefore, extremely important that the industry remains viable to support the vision of Digital India, Bharti Airtel said in a statement on Monday.
"Accordingly, Airtel will appropriately increase price offerings in the month beginning December," it said in a statement.
Bharti Airtel, which has been hit hard by the Supreme Court ruling on statutory dues, last week posted highest ever loss of Rs 23,045 crore in the three months ended September.
The company also said that it understands that telecom regulator Trai is likely to initiate a consultation for bringing rationality in pricing in the Indian mobile sector, which has been operating at prices that have been eroding its viability.
Earlier on Monday, Vodafone Idea announced it will increase mobile service rates from December 1 in the wake of ongoing financial stress. "To ensure that its customers continue to enjoy world-class digital experiences, Vodafone Idea will suitably increase the prices of its tariffs effective December 1," the company said in a statement today. The debt-ridden Vodafone Idea, however, did not disclose the range or details of the proposed tariff hike. Vodafone-Idea (VIL) on Monday advanced nearly 18 per cent on the NSE over investors renewed interest in telecom stocks over a possible government-led revival.
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