![\"\"](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
Segmented tariff hikes taken in July last year and a wider increase toward the end of 2021 look to have helped the telecom carrier report a sequential 3% increase in third-quarter revenue, led by a more than 5% increase in ARPU. With expectations of another round of tariff increase this year, the metric will likely improve further. While that is an encouraging sign for the company and its investors amid a flurry of bad news, analysts say fresh capital and resolution of debt issues can only help the company stay afloat.
``These are some positive signs and are likely to roll on to the next quarter as well. But Vi still has a long path to be back on track,’’ says Charu Paliwal, Research Analyst at Counterpoint Research. ``It requires higher capex to close the 4G-coverage gap and compete effectively. Fundraising exercise needs to be concluded soon to be able to make increased network investments.”
To be sure, Vodafone Idea spent a meagre Rs 3,300 crore on its networks over nine months to December, compared with bigger rival Bharti Airtel<\/a>’s Rs 4,600 crore capex spend in July-September quarter alone, according to Nomura<\/a>. Capex spend in the December quarter was Rs 1,050 crore for Vodafone Idea, compared with Bharti’s Rs 6,101 crore.
As operators upgrade subscribers from 2G to 4G and deepen coverage in the nook and corners of a vast geography, they need to regularly invest on networks to provide seamless coverage. Vodafone Idea, with its mounting debt burden and string of losses, has not been able to keep pace, losing subscribers and market share to rivals Reliance Jio<\/a> Infocomm and Bharti Airtel.
ANOTHER TARIFF HIKE?<\/strong>
Analysts expect telecom operators to resort to another price hike this year as costly 5G auctions near. In November last year, telcos raised prices by 20%-25%.
Bharti Airtel’s CEO Gopal Vittal said recently that the company won’t hesitate to take the lead in pushing through another round of tariff hikes in 2022 itself, as it looks to boost ARPU to 200 rupees in this calendar year, and eventually to 300 rupees. Although any increase was unlikely in the next 3-4 months at least.
Vodafone Idea, which is the smallest now in the three private player market, will, however, need to tread carefully.
“There are two concerns,’’ says Mahesh Uppal, a telecom expert. ``If competitors don't raise prices, then the telco raising those will become uncompetitive. And second, raising prices to improve ARPUs might drive away customers and undo the ARPU rise.’’
Indeed, Vodafone Idea lost subscribers as tariffs increased last year. Analysts partly attributed the lost subscribers to users giving up more than one SIM card they had as prices rose.
“Telcos would want a tariff increase that is sustainable in the marketplace,” says Uppal.
Last month, Vodafone Idea CEO Ravinder Takkar<\/a> on raising tariffs said, “It’s possible that there could be another price hike in 2022 but certainly at some point the price hike will take place. The last one was almost 2 years earlier which I believe is a bit long. We certainly would expect less than two years but in 2022 we will have to see how quickly these prices get embedded. Probably, it could be 2023 as well.”
Despite the recent hikes, India’s average mobile data prices at around $0.3 per GB is still one of the lowest globally with the cheapest data plan costing just $0.1 per GB and giving operators headroom to raise tariffs further. The price per GB in the United States, China and South Korea is between $8- $10 per GB, with the cheapest plans costing anywhere between $0.6-$2 per GB, according to data from Crisil Research.
Read also<\/h4><\/a><\/figure>Drop in customer base due to tariff hike, SIM consolidation: Vodafone Idea’s Ravinder Takkar<\/a><\/h5><\/div><\/a><\/figure>Mobile prices may rise again in 2022: Vittal<\/a><\/h5><\/div><\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/span>ETTelecom Interviews: Vodafone Idea MD Ravinder Takkar on spectrum pricing, availability for 5G<\/a><\/div><\/div>
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- Telecom乐动扑克News
- 5分钟读
沃达丰想法危在旦夕,即使一线希望
上个月,沃达丰想法CEO Ravinder Takkar提高关税说,“这是可能的,可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
陷入困境的出现了一丝希望沃达丰的想法看到它的每用户平均收入——一个关键指标——连续第三个季度上升,即使它继续巨额亏损后,面临着巨额债务。
分段关税上调了去年7月和更广泛的增加对2021年底帮助电信运营商报告连续第三季度收入增长3%,由ARPU增加超过5%。预期今年新一轮的关税增加,指标可能会进一步提高。虽然这是一个令人鼓舞的信号对该公司及其投资者进行一连串的坏消息,分析人士说,新资本,解决债务问题只能帮助公司维持下去。乐动扑克
“这些都是一些积极的迹象,可能会滚动到下一个季度。但六世仍然有很长的路要回到正轨,“说Charu Paliwal,研究分析师对比研究。“它需要更高的资本支出关闭4 g网络覆盖率差距和有效竞争。筹款运动需要总结很快能够增加网络投资。”
可以肯定的是,沃达丰的想法在其网络上花了微薄的3300卢比在9个月到12月,与更大的竞争对手Bharti Airtel4600卢比的资本支出花费仅在7 - 9月一季,根据野村证券。12月季度资本支出花费1050卢比了沃达丰的想法,相比之下,Bharti的6101卢比。
随着运营商用户从2 g升级到4 g,深化报道nook和角落的一个巨大的地理,他们需要定期投资网络提供无缝覆盖。沃达丰的想法,其债务负担和一系列损失,未能跟上,失去用户和市场份额的竞争对手依赖JioInfocomm和Bharti Airtel。
另一个关税上调?
分析师预计今年电信运营商采取另一个涨价成本5 g拍卖附近。去年11月,电信公司将价格提高了20% - -25%。
Bharti Airtel的首席执行官Gopal Vittal最近表示,该公司不会犹豫地带头推动新一轮的关税上调2022年本身,因为它看起来提高ARPU在今年200卢比,最终到300卢比。虽然不太可能增加至少在未来3 - 4个月。
沃达丰的想法,现在是最小的三个私人玩家市场,将,然而,需要谨慎行事。
说:“有两个顾虑马赫什•Uppal电信专家。“如果竞争对手不提高价格,那么这些将成为电信提高竞争力。第二,提高价格来提高ARPU可能赶走顾客和撤销ARPU上升。”
事实上,沃达丰的想法失去了用户去年增加关税。部分分析师将失去用户用户放弃多个SIM卡,价格上涨。
“电信公司希望增加关税,在市场上是可持续的,”Uppal说。
上个月,沃达丰(Vodafone)首席执行官Ravinder Takkar提高关税说,“可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
尽管近期上涨,印度的移动数据的平均价格在0.3美元每GB仍然是全球最低的国家之一,最便宜的数据计划成本仅为0.1美元每GB,给运营商空间进一步提高关税。每GB的价格在美国,中国和韩国是8 - 10美元之间每GB,最便宜的计划成本每GB 0.6 - 2美元之间,数据显示Crisil的研究。
读也
巨额债务
在12月结束,沃达丰的总债务是Rs 1.99十万的卢比,包括Rs 1.76十万的卢比用于印度政府。尽管四年禁令,11300卢比偿还债务在未来的12个月,并将需要外部融资和尖锐的关税上调满足还款,根据野村。
它提供政府价值16000卢比的股权代替一些会费,但尚未说如果电信部门同意的建议。
虽然税率可以帮助沃达丰想法在某种程度上“但不足以扭转业务和防止政府股份进一步增加当后续费支付暂停期结束后,“对位Paliwal说。
沃达丰的想法自2020年以来一直试图筹集资金迄今收效甚微。公司的MD Ravinder Takkar最近表示,预计今年3月之前关闭筹款。
“没有重大的融资,我们认为VI 5 g的网络投资和推广仍将受到限制,至少在短期内,导致市场份额进一步侵蚀,”野村说。潜在的大型股权稀释也被视为消极的任何外部融资。
甚至沃达丰想法的审计师SR Batliboi & Associates在1月份表示,航空公司继续作为一个持续经营的能力取决于它能够筹集额外资金,成功与银行的谈判继续支持和一代的现金流从它的操作。
没有任何其他直接积极的触发,税率仍为载体的唯一途径改善其财务。
“沃达丰的长期健康的想法只会保证筹款。现在当然是更好比以前税率和一些股权转移到政府,“Uppal说。“在很大程度上取决于未来几个月市场和政府做什么”。
<\/span><\/figcaption><\/figure>A glimmer of hope has emerged for beleaguered Vodafone Idea<\/a> that saw its average revenue per user - a key metric - rising for the successive third quarter, even as it continues to post massive losses and faces a debt mountain.
Segmented tariff hikes taken in July last year and a wider increase toward the end of 2021 look to have helped the telecom carrier report a sequential 3% increase in third-quarter revenue, led by a more than 5% increase in ARPU. With expectations of another round of tariff increase this year, the metric will likely improve further. While that is an encouraging sign for the company and its investors amid a flurry of bad news, analysts say fresh capital and resolution of debt issues can only help the company stay afloat.
``These are some positive signs and are likely to roll on to the next quarter as well. But Vi still has a long path to be back on track,’’ says Charu Paliwal, Research Analyst at Counterpoint Research. ``It requires higher capex to close the 4G-coverage gap and compete effectively. Fundraising exercise needs to be concluded soon to be able to make increased network investments.”
To be sure, Vodafone Idea spent a meagre Rs 3,300 crore on its networks over nine months to December, compared with bigger rival Bharti Airtel<\/a>’s Rs 4,600 crore capex spend in July-September quarter alone, according to Nomura<\/a>. Capex spend in the December quarter was Rs 1,050 crore for Vodafone Idea, compared with Bharti’s Rs 6,101 crore.
As operators upgrade subscribers from 2G to 4G and deepen coverage in the nook and corners of a vast geography, they need to regularly invest on networks to provide seamless coverage. Vodafone Idea, with its mounting debt burden and string of losses, has not been able to keep pace, losing subscribers and market share to rivals Reliance Jio<\/a> Infocomm and Bharti Airtel.
ANOTHER TARIFF HIKE?<\/strong>
Analysts expect telecom operators to resort to another price hike this year as costly 5G auctions near. In November last year, telcos raised prices by 20%-25%.
Bharti Airtel’s CEO Gopal Vittal said recently that the company won’t hesitate to take the lead in pushing through another round of tariff hikes in 2022 itself, as it looks to boost ARPU to 200 rupees in this calendar year, and eventually to 300 rupees. Although any increase was unlikely in the next 3-4 months at least.
Vodafone Idea, which is the smallest now in the three private player market, will, however, need to tread carefully.
“There are two concerns,’’ says Mahesh Uppal, a telecom expert. ``If competitors don't raise prices, then the telco raising those will become uncompetitive. And second, raising prices to improve ARPUs might drive away customers and undo the ARPU rise.’’
Indeed, Vodafone Idea lost subscribers as tariffs increased last year. Analysts partly attributed the lost subscribers to users giving up more than one SIM card they had as prices rose.
“Telcos would want a tariff increase that is sustainable in the marketplace,” says Uppal.
Last month, Vodafone Idea CEO Ravinder Takkar<\/a> on raising tariffs said, “It’s possible that there could be another price hike in 2022 but certainly at some point the price hike will take place. The last one was almost 2 years earlier which I believe is a bit long. We certainly would expect less than two years but in 2022 we will have to see how quickly these prices get embedded. Probably, it could be 2023 as well.”
Despite the recent hikes, India’s average mobile data prices at around $0.3 per GB is still one of the lowest globally with the cheapest data plan costing just $0.1 per GB and giving operators headroom to raise tariffs further. The price per GB in the United States, China and South Korea is between $8- $10 per GB, with the cheapest plans costing anywhere between $0.6-$2 per GB, according to data from Crisil Research.
Read also<\/h4><\/a><\/figure>Drop in customer base due to tariff hike, SIM consolidation: Vodafone Idea’s Ravinder Takkar<\/a><\/h5><\/div><\/a><\/figure>Mobile prices may rise again in 2022: Vittal<\/a><\/h5><\/div><\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/a><\/figure>Drop in customer base due to tariff hike, SIM consolidation: Vodafone Idea’s Ravinder Takkar<\/a><\/h5><\/div><\/a><\/figure>Mobile prices may rise again in 2022: Vittal<\/a><\/h5><\/div><\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/span>ETTelecom Interviews: Vodafone Idea MD Ravinder Takkar on spectrum pricing, availability for 5G<\/a><\/div><\/div>
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- Telecom乐动扑克News
- 5分钟读
沃达丰想法危在旦夕,即使一线希望
上个月,沃达丰想法CEO Ravinder Takkar提高关税说,“这是可能的,可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
陷入困境的出现了一丝希望沃达丰的想法看到它的每用户平均收入——一个关键指标——连续第三个季度上升,即使它继续巨额亏损后,面临着巨额债务。
分段关税上调了去年7月和更广泛的增加对2021年底帮助电信运营商报告连续第三季度收入增长3%,由ARPU增加超过5%。预期今年新一轮的关税增加,指标可能会进一步提高。虽然这是一个令人鼓舞的信号对该公司及其投资者进行一连串的坏消息,分析人士说,新资本,解决债务问题只能帮助公司维持下去。乐动扑克
“这些都是一些积极的迹象,可能会滚动到下一个季度。但六世仍然有很长的路要回到正轨,“说Charu Paliwal,研究分析师对比研究。“它需要更高的资本支出关闭4 g网络覆盖率差距和有效竞争。筹款运动需要总结很快能够增加网络投资。”
可以肯定的是,沃达丰的想法在其网络上花了微薄的3300卢比在9个月到12月,与更大的竞争对手Bharti Airtel4600卢比的资本支出花费仅在7 - 9月一季,根据野村证券。12月季度资本支出花费1050卢比了沃达丰的想法,相比之下,Bharti的6101卢比。
随着运营商用户从2 g升级到4 g,深化报道nook和角落的一个巨大的地理,他们需要定期投资网络提供无缝覆盖。沃达丰的想法,其债务负担和一系列损失,未能跟上,失去用户和市场份额的竞争对手依赖JioInfocomm和Bharti Airtel。
另一个关税上调?
分析师预计今年电信运营商采取另一个涨价成本5 g拍卖附近。去年11月,电信公司将价格提高了20% - -25%。
Bharti Airtel的首席执行官Gopal Vittal最近表示,该公司不会犹豫地带头推动新一轮的关税上调2022年本身,因为它看起来提高ARPU在今年200卢比,最终到300卢比。虽然不太可能增加至少在未来3 - 4个月。
沃达丰的想法,现在是最小的三个私人玩家市场,将,然而,需要谨慎行事。
说:“有两个顾虑马赫什•Uppal电信专家。“如果竞争对手不提高价格,那么这些将成为电信提高竞争力。第二,提高价格来提高ARPU可能赶走顾客和撤销ARPU上升。”
事实上,沃达丰的想法失去了用户去年增加关税。部分分析师将失去用户用户放弃多个SIM卡,价格上涨。
“电信公司希望增加关税,在市场上是可持续的,”Uppal说。
上个月,沃达丰(Vodafone)首席执行官Ravinder Takkar提高关税说,“可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
尽管近期上涨,印度的移动数据的平均价格在0.3美元每GB仍然是全球最低的国家之一,最便宜的数据计划成本仅为0.1美元每GB,给运营商空间进一步提高关税。每GB的价格在美国,中国和韩国是8 - 10美元之间每GB,最便宜的计划成本每GB 0.6 - 2美元之间,数据显示Crisil的研究。
读也
巨额债务
在12月结束,沃达丰的总债务是Rs 1.99十万的卢比,包括Rs 1.76十万的卢比用于印度政府。尽管四年禁令,11300卢比偿还债务在未来的12个月,并将需要外部融资和尖锐的关税上调满足还款,根据野村。
它提供政府价值16000卢比的股权代替一些会费,但尚未说如果电信部门同意的建议。
虽然税率可以帮助沃达丰想法在某种程度上“但不足以扭转业务和防止政府股份进一步增加当后续费支付暂停期结束后,“对位Paliwal说。
沃达丰的想法自2020年以来一直试图筹集资金迄今收效甚微。公司的MD Ravinder Takkar最近表示,预计今年3月之前关闭筹款。
“没有重大的融资,我们认为VI 5 g的网络投资和推广仍将受到限制,至少在短期内,导致市场份额进一步侵蚀,”野村说。潜在的大型股权稀释也被视为消极的任何外部融资。
甚至沃达丰想法的审计师SR Batliboi & Associates在1月份表示,航空公司继续作为一个持续经营的能力取决于它能够筹集额外资金,成功与银行的谈判继续支持和一代的现金流从它的操作。
没有任何其他直接积极的触发,税率仍为载体的唯一途径改善其财务。
“沃达丰的长期健康的想法只会保证筹款。现在当然是更好比以前税率和一些股权转移到政府,“Uppal说。“在很大程度上取决于未来几个月市场和政府做什么”。
<\/span><\/figcaption><\/figure>A glimmer of hope has emerged for beleaguered Vodafone Idea<\/a> that saw its average revenue per user - a key metric - rising for the successive third quarter, even as it continues to post massive losses and faces a debt mountain.
Segmented tariff hikes taken in July last year and a wider increase toward the end of 2021 look to have helped the telecom carrier report a sequential 3% increase in third-quarter revenue, led by a more than 5% increase in ARPU. With expectations of another round of tariff increase this year, the metric will likely improve further. While that is an encouraging sign for the company and its investors amid a flurry of bad news, analysts say fresh capital and resolution of debt issues can only help the company stay afloat.
``These are some positive signs and are likely to roll on to the next quarter as well. But Vi still has a long path to be back on track,’’ says Charu Paliwal, Research Analyst at Counterpoint Research. ``It requires higher capex to close the 4G-coverage gap and compete effectively. Fundraising exercise needs to be concluded soon to be able to make increased network investments.”
To be sure, Vodafone Idea spent a meagre Rs 3,300 crore on its networks over nine months to December, compared with bigger rival Bharti Airtel<\/a>’s Rs 4,600 crore capex spend in July-September quarter alone, according to Nomura<\/a>. Capex spend in the December quarter was Rs 1,050 crore for Vodafone Idea, compared with Bharti’s Rs 6,101 crore.
As operators upgrade subscribers from 2G to 4G and deepen coverage in the nook and corners of a vast geography, they need to regularly invest on networks to provide seamless coverage. Vodafone Idea, with its mounting debt burden and string of losses, has not been able to keep pace, losing subscribers and market share to rivals Reliance Jio<\/a> Infocomm and Bharti Airtel.
ANOTHER TARIFF HIKE?<\/strong>
Analysts expect telecom operators to resort to another price hike this year as costly 5G auctions near. In November last year, telcos raised prices by 20%-25%.
Bharti Airtel’s CEO Gopal Vittal said recently that the company won’t hesitate to take the lead in pushing through another round of tariff hikes in 2022 itself, as it looks to boost ARPU to 200 rupees in this calendar year, and eventually to 300 rupees. Although any increase was unlikely in the next 3-4 months at least.
Vodafone Idea, which is the smallest now in the three private player market, will, however, need to tread carefully.
“There are two concerns,’’ says Mahesh Uppal, a telecom expert. ``If competitors don't raise prices, then the telco raising those will become uncompetitive. And second, raising prices to improve ARPUs might drive away customers and undo the ARPU rise.’’
Indeed, Vodafone Idea lost subscribers as tariffs increased last year. Analysts partly attributed the lost subscribers to users giving up more than one SIM card they had as prices rose.
“Telcos would want a tariff increase that is sustainable in the marketplace,” says Uppal.
Last month, Vodafone Idea CEO Ravinder Takkar<\/a> on raising tariffs said, “It’s possible that there could be another price hike in 2022 but certainly at some point the price hike will take place. The last one was almost 2 years earlier which I believe is a bit long. We certainly would expect less than two years but in 2022 we will have to see how quickly these prices get embedded. Probably, it could be 2023 as well.”
Despite the recent hikes, India’s average mobile data prices at around $0.3 per GB is still one of the lowest globally with the cheapest data plan costing just $0.1 per GB and giving operators headroom to raise tariffs further. The price per GB in the United States, China and South Korea is between $8- $10 per GB, with the cheapest plans costing anywhere between $0.6-$2 per GB, according to data from Crisil Research.
Read also<\/h4><\/a><\/figure>Drop in customer base due to tariff hike, SIM consolidation: Vodafone Idea’s Ravinder Takkar<\/a><\/h5><\/div><\/a><\/figure>Mobile prices may rise again in 2022: Vittal<\/a><\/h5><\/div><\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/a><\/figure>Mobile prices may rise again in 2022: Vittal<\/a><\/h5><\/div><\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/span>ETTelecom Interviews: Vodafone Idea MD Ravinder Takkar on spectrum pricing, availability for 5G<\/a><\/div><\/div>
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- Telecom乐动扑克News
- 5分钟读
沃达丰想法危在旦夕,即使一线希望
上个月,沃达丰想法CEO Ravinder Takkar提高关税说,“这是可能的,可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
陷入困境的出现了一丝希望沃达丰的想法看到它的每用户平均收入——一个关键指标——连续第三个季度上升,即使它继续巨额亏损后,面临着巨额债务。
分段关税上调了去年7月和更广泛的增加对2021年底帮助电信运营商报告连续第三季度收入增长3%,由ARPU增加超过5%。预期今年新一轮的关税增加,指标可能会进一步提高。虽然这是一个令人鼓舞的信号对该公司及其投资者进行一连串的坏消息,分析人士说,新资本,解决债务问题只能帮助公司维持下去。乐动扑克
“这些都是一些积极的迹象,可能会滚动到下一个季度。但六世仍然有很长的路要回到正轨,“说Charu Paliwal,研究分析师对比研究。“它需要更高的资本支出关闭4 g网络覆盖率差距和有效竞争。筹款运动需要总结很快能够增加网络投资。”
可以肯定的是,沃达丰的想法在其网络上花了微薄的3300卢比在9个月到12月,与更大的竞争对手Bharti Airtel4600卢比的资本支出花费仅在7 - 9月一季,根据野村证券。12月季度资本支出花费1050卢比了沃达丰的想法,相比之下,Bharti的6101卢比。
随着运营商用户从2 g升级到4 g,深化报道nook和角落的一个巨大的地理,他们需要定期投资网络提供无缝覆盖。沃达丰的想法,其债务负担和一系列损失,未能跟上,失去用户和市场份额的竞争对手依赖JioInfocomm和Bharti Airtel。
另一个关税上调?
分析师预计今年电信运营商采取另一个涨价成本5 g拍卖附近。去年11月,电信公司将价格提高了20% - -25%。
Bharti Airtel的首席执行官Gopal Vittal最近表示,该公司不会犹豫地带头推动新一轮的关税上调2022年本身,因为它看起来提高ARPU在今年200卢比,最终到300卢比。虽然不太可能增加至少在未来3 - 4个月。
沃达丰的想法,现在是最小的三个私人玩家市场,将,然而,需要谨慎行事。
说:“有两个顾虑马赫什•Uppal电信专家。“如果竞争对手不提高价格,那么这些将成为电信提高竞争力。第二,提高价格来提高ARPU可能赶走顾客和撤销ARPU上升。”
事实上,沃达丰的想法失去了用户去年增加关税。部分分析师将失去用户用户放弃多个SIM卡,价格上涨。
“电信公司希望增加关税,在市场上是可持续的,”Uppal说。
上个月,沃达丰(Vodafone)首席执行官Ravinder Takkar提高关税说,“可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
尽管近期上涨,印度的移动数据的平均价格在0.3美元每GB仍然是全球最低的国家之一,最便宜的数据计划成本仅为0.1美元每GB,给运营商空间进一步提高关税。每GB的价格在美国,中国和韩国是8 - 10美元之间每GB,最便宜的计划成本每GB 0.6 - 2美元之间,数据显示Crisil的研究。
读也
巨额债务
在12月结束,沃达丰的总债务是Rs 1.99十万的卢比,包括Rs 1.76十万的卢比用于印度政府。尽管四年禁令,11300卢比偿还债务在未来的12个月,并将需要外部融资和尖锐的关税上调满足还款,根据野村。
它提供政府价值16000卢比的股权代替一些会费,但尚未说如果电信部门同意的建议。
虽然税率可以帮助沃达丰想法在某种程度上“但不足以扭转业务和防止政府股份进一步增加当后续费支付暂停期结束后,“对位Paliwal说。
沃达丰的想法自2020年以来一直试图筹集资金迄今收效甚微。公司的MD Ravinder Takkar最近表示,预计今年3月之前关闭筹款。
“没有重大的融资,我们认为VI 5 g的网络投资和推广仍将受到限制,至少在短期内,导致市场份额进一步侵蚀,”野村说。潜在的大型股权稀释也被视为消极的任何外部融资。
甚至沃达丰想法的审计师SR Batliboi & Associates在1月份表示,航空公司继续作为一个持续经营的能力取决于它能够筹集额外资金,成功与银行的谈判继续支持和一代的现金流从它的操作。
没有任何其他直接积极的触发,税率仍为载体的唯一途径改善其财务。
“沃达丰的长期健康的想法只会保证筹款。现在当然是更好比以前税率和一些股权转移到政府,“Uppal说。“在很大程度上取决于未来几个月市场和政府做什么”。
<\/span><\/figcaption><\/figure>A glimmer of hope has emerged for beleaguered Vodafone Idea<\/a> that saw its average revenue per user - a key metric - rising for the successive third quarter, even as it continues to post massive losses and faces a debt mountain.
Segmented tariff hikes taken in July last year and a wider increase toward the end of 2021 look to have helped the telecom carrier report a sequential 3% increase in third-quarter revenue, led by a more than 5% increase in ARPU. With expectations of another round of tariff increase this year, the metric will likely improve further. While that is an encouraging sign for the company and its investors amid a flurry of bad news, analysts say fresh capital and resolution of debt issues can only help the company stay afloat.
``These are some positive signs and are likely to roll on to the next quarter as well. But Vi still has a long path to be back on track,’’ says Charu Paliwal, Research Analyst at Counterpoint Research. ``It requires higher capex to close the 4G-coverage gap and compete effectively. Fundraising exercise needs to be concluded soon to be able to make increased network investments.”
To be sure, Vodafone Idea spent a meagre Rs 3,300 crore on its networks over nine months to December, compared with bigger rival Bharti Airtel<\/a>’s Rs 4,600 crore capex spend in July-September quarter alone, according to Nomura<\/a>. Capex spend in the December quarter was Rs 1,050 crore for Vodafone Idea, compared with Bharti’s Rs 6,101 crore.
As operators upgrade subscribers from 2G to 4G and deepen coverage in the nook and corners of a vast geography, they need to regularly invest on networks to provide seamless coverage. Vodafone Idea, with its mounting debt burden and string of losses, has not been able to keep pace, losing subscribers and market share to rivals Reliance Jio<\/a> Infocomm and Bharti Airtel.
ANOTHER TARIFF HIKE?<\/strong>
Analysts expect telecom operators to resort to another price hike this year as costly 5G auctions near. In November last year, telcos raised prices by 20%-25%.
Bharti Airtel’s CEO Gopal Vittal said recently that the company won’t hesitate to take the lead in pushing through another round of tariff hikes in 2022 itself, as it looks to boost ARPU to 200 rupees in this calendar year, and eventually to 300 rupees. Although any increase was unlikely in the next 3-4 months at least.
Vodafone Idea, which is the smallest now in the three private player market, will, however, need to tread carefully.
“There are two concerns,’’ says Mahesh Uppal, a telecom expert. ``If competitors don't raise prices, then the telco raising those will become uncompetitive. And second, raising prices to improve ARPUs might drive away customers and undo the ARPU rise.’’
Indeed, Vodafone Idea lost subscribers as tariffs increased last year. Analysts partly attributed the lost subscribers to users giving up more than one SIM card they had as prices rose.
“Telcos would want a tariff increase that is sustainable in the marketplace,” says Uppal.
Last month, Vodafone Idea CEO Ravinder Takkar<\/a> on raising tariffs said, “It’s possible that there could be another price hike in 2022 but certainly at some point the price hike will take place. The last one was almost 2 years earlier which I believe is a bit long. We certainly would expect less than two years but in 2022 we will have to see how quickly these prices get embedded. Probably, it could be 2023 as well.”
Despite the recent hikes, India’s average mobile data prices at around $0.3 per GB is still one of the lowest globally with the cheapest data plan costing just $0.1 per GB and giving operators headroom to raise tariffs further. The price per GB in the United States, China and South Korea is between $8- $10 per GB, with the cheapest plans costing anywhere between $0.6-$2 per GB, according to data from Crisil Research.
Read also<\/h4><\/a><\/figure>Drop in customer base due to tariff hike, SIM consolidation: Vodafone Idea’s Ravinder Takkar<\/a><\/h5><\/div><\/a><\/figure>Mobile prices may rise again in 2022: Vittal<\/a><\/h5><\/div><\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/span>ETTelecom Interviews: Vodafone Idea MD Ravinder Takkar on spectrum pricing, availability for 5G<\/a><\/div><\/div>
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- Telecom乐动扑克News
- 5分钟读
沃达丰想法危在旦夕,即使一线希望
上个月,沃达丰想法CEO Ravinder Takkar提高关税说,“这是可能的,可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
陷入困境的出现了一丝希望沃达丰的想法看到它的每用户平均收入——一个关键指标——连续第三个季度上升,即使它继续巨额亏损后,面临着巨额债务。
分段关税上调了去年7月和更广泛的增加对2021年底帮助电信运营商报告连续第三季度收入增长3%,由ARPU增加超过5%。预期今年新一轮的关税增加,指标可能会进一步提高。虽然这是一个令人鼓舞的信号对该公司及其投资者进行一连串的坏消息,分析人士说,新资本,解决债务问题只能帮助公司维持下去。乐动扑克
“这些都是一些积极的迹象,可能会滚动到下一个季度。但六世仍然有很长的路要回到正轨,“说Charu Paliwal,研究分析师对比研究。“它需要更高的资本支出关闭4 g网络覆盖率差距和有效竞争。筹款运动需要总结很快能够增加网络投资。”
可以肯定的是,沃达丰的想法在其网络上花了微薄的3300卢比在9个月到12月,与更大的竞争对手Bharti Airtel4600卢比的资本支出花费仅在7 - 9月一季,根据野村证券。12月季度资本支出花费1050卢比了沃达丰的想法,相比之下,Bharti的6101卢比。
随着运营商用户从2 g升级到4 g,深化报道nook和角落的一个巨大的地理,他们需要定期投资网络提供无缝覆盖。沃达丰的想法,其债务负担和一系列损失,未能跟上,失去用户和市场份额的竞争对手依赖JioInfocomm和Bharti Airtel。
另一个关税上调?
分析师预计今年电信运营商采取另一个涨价成本5 g拍卖附近。去年11月,电信公司将价格提高了20% - -25%。
Bharti Airtel的首席执行官Gopal Vittal最近表示,该公司不会犹豫地带头推动新一轮的关税上调2022年本身,因为它看起来提高ARPU在今年200卢比,最终到300卢比。虽然不太可能增加至少在未来3 - 4个月。
沃达丰的想法,现在是最小的三个私人玩家市场,将,然而,需要谨慎行事。
说:“有两个顾虑马赫什•Uppal电信专家。“如果竞争对手不提高价格,那么这些将成为电信提高竞争力。第二,提高价格来提高ARPU可能赶走顾客和撤销ARPU上升。”
事实上,沃达丰的想法失去了用户去年增加关税。部分分析师将失去用户用户放弃多个SIM卡,价格上涨。
“电信公司希望增加关税,在市场上是可持续的,”Uppal说。
上个月,沃达丰(Vodafone)首席执行官Ravinder Takkar提高关税说,“可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
尽管近期上涨,印度的移动数据的平均价格在0.3美元每GB仍然是全球最低的国家之一,最便宜的数据计划成本仅为0.1美元每GB,给运营商空间进一步提高关税。每GB的价格在美国,中国和韩国是8 - 10美元之间每GB,最便宜的计划成本每GB 0.6 - 2美元之间,数据显示Crisil的研究。
读也
巨额债务
在12月结束,沃达丰的总债务是Rs 1.99十万的卢比,包括Rs 1.76十万的卢比用于印度政府。尽管四年禁令,11300卢比偿还债务在未来的12个月,并将需要外部融资和尖锐的关税上调满足还款,根据野村。
它提供政府价值16000卢比的股权代替一些会费,但尚未说如果电信部门同意的建议。
虽然税率可以帮助沃达丰想法在某种程度上“但不足以扭转业务和防止政府股份进一步增加当后续费支付暂停期结束后,“对位Paliwal说。
沃达丰的想法自2020年以来一直试图筹集资金迄今收效甚微。公司的MD Ravinder Takkar最近表示,预计今年3月之前关闭筹款。
“没有重大的融资,我们认为VI 5 g的网络投资和推广仍将受到限制,至少在短期内,导致市场份额进一步侵蚀,”野村说。潜在的大型股权稀释也被视为消极的任何外部融资。
甚至沃达丰想法的审计师SR Batliboi & Associates在1月份表示,航空公司继续作为一个持续经营的能力取决于它能够筹集额外资金,成功与银行的谈判继续支持和一代的现金流从它的操作。
没有任何其他直接积极的触发,税率仍为载体的唯一途径改善其财务。
“沃达丰的长期健康的想法只会保证筹款。现在当然是更好比以前税率和一些股权转移到政府,“Uppal说。“在很大程度上取决于未来几个月市场和政府做什么”。
<\/span><\/figcaption><\/figure>A glimmer of hope has emerged for beleaguered Vodafone Idea<\/a> that saw its average revenue per user - a key metric - rising for the successive third quarter, even as it continues to post massive losses and faces a debt mountain.
Segmented tariff hikes taken in July last year and a wider increase toward the end of 2021 look to have helped the telecom carrier report a sequential 3% increase in third-quarter revenue, led by a more than 5% increase in ARPU. With expectations of another round of tariff increase this year, the metric will likely improve further. While that is an encouraging sign for the company and its investors amid a flurry of bad news, analysts say fresh capital and resolution of debt issues can only help the company stay afloat.
``These are some positive signs and are likely to roll on to the next quarter as well. But Vi still has a long path to be back on track,’’ says Charu Paliwal, Research Analyst at Counterpoint Research. ``It requires higher capex to close the 4G-coverage gap and compete effectively. Fundraising exercise needs to be concluded soon to be able to make increased network investments.”
To be sure, Vodafone Idea spent a meagre Rs 3,300 crore on its networks over nine months to December, compared with bigger rival Bharti Airtel<\/a>’s Rs 4,600 crore capex spend in July-September quarter alone, according to Nomura<\/a>. Capex spend in the December quarter was Rs 1,050 crore for Vodafone Idea, compared with Bharti’s Rs 6,101 crore.
As operators upgrade subscribers from 2G to 4G and deepen coverage in the nook and corners of a vast geography, they need to regularly invest on networks to provide seamless coverage. Vodafone Idea, with its mounting debt burden and string of losses, has not been able to keep pace, losing subscribers and market share to rivals Reliance Jio<\/a> Infocomm and Bharti Airtel.
ANOTHER TARIFF HIKE?<\/strong>
Analysts expect telecom operators to resort to another price hike this year as costly 5G auctions near. In November last year, telcos raised prices by 20%-25%.
Bharti Airtel’s CEO Gopal Vittal said recently that the company won’t hesitate to take the lead in pushing through another round of tariff hikes in 2022 itself, as it looks to boost ARPU to 200 rupees in this calendar year, and eventually to 300 rupees. Although any increase was unlikely in the next 3-4 months at least.
Vodafone Idea, which is the smallest now in the three private player market, will, however, need to tread carefully.
“There are two concerns,’’ says Mahesh Uppal, a telecom expert. ``If competitors don't raise prices, then the telco raising those will become uncompetitive. And second, raising prices to improve ARPUs might drive away customers and undo the ARPU rise.’’
Indeed, Vodafone Idea lost subscribers as tariffs increased last year. Analysts partly attributed the lost subscribers to users giving up more than one SIM card they had as prices rose.
“Telcos would want a tariff increase that is sustainable in the marketplace,” says Uppal.
Last month, Vodafone Idea CEO Ravinder Takkar<\/a> on raising tariffs said, “It’s possible that there could be another price hike in 2022 but certainly at some point the price hike will take place. The last one was almost 2 years earlier which I believe is a bit long. We certainly would expect less than two years but in 2022 we will have to see how quickly these prices get embedded. Probably, it could be 2023 as well.”
Despite the recent hikes, India’s average mobile data prices at around $0.3 per GB is still one of the lowest globally with the cheapest data plan costing just $0.1 per GB and giving operators headroom to raise tariffs further. The price per GB in the United States, China and South Korea is between $8- $10 per GB, with the cheapest plans costing anywhere between $0.6-$2 per GB, according to data from Crisil Research.
Read also<\/h4><\/a><\/figure>Drop in customer base due to tariff hike, SIM consolidation: Vodafone Idea’s Ravinder Takkar<\/a><\/h5><\/div><\/a><\/figure>Mobile prices may rise again in 2022: Vittal<\/a><\/h5><\/div><\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/span>ETTelecom Interviews: Vodafone Idea MD Ravinder Takkar on spectrum pricing, availability for 5G<\/a><\/div><\/div>
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- Telecom乐动扑克News
- 5分钟读
沃达丰想法危在旦夕,即使一线希望
上个月,沃达丰想法CEO Ravinder Takkar提高关税说,“这是可能的,可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
陷入困境的出现了一丝希望沃达丰的想法看到它的每用户平均收入——一个关键指标——连续第三个季度上升,即使它继续巨额亏损后,面临着巨额债务。
分段关税上调了去年7月和更广泛的增加对2021年底帮助电信运营商报告连续第三季度收入增长3%,由ARPU增加超过5%。预期今年新一轮的关税增加,指标可能会进一步提高。虽然这是一个令人鼓舞的信号对该公司及其投资者进行一连串的坏消息,分析人士说,新资本,解决债务问题只能帮助公司维持下去。乐动扑克
“这些都是一些积极的迹象,可能会滚动到下一个季度。但六世仍然有很长的路要回到正轨,“说Charu Paliwal,研究分析师对比研究。“它需要更高的资本支出关闭4 g网络覆盖率差距和有效竞争。筹款运动需要总结很快能够增加网络投资。”
可以肯定的是,沃达丰的想法在其网络上花了微薄的3300卢比在9个月到12月,与更大的竞争对手Bharti Airtel4600卢比的资本支出花费仅在7 - 9月一季,根据野村证券。12月季度资本支出花费1050卢比了沃达丰的想法,相比之下,Bharti的6101卢比。
随着运营商用户从2 g升级到4 g,深化报道nook和角落的一个巨大的地理,他们需要定期投资网络提供无缝覆盖。沃达丰的想法,其债务负担和一系列损失,未能跟上,失去用户和市场份额的竞争对手依赖JioInfocomm和Bharti Airtel。
另一个关税上调?
分析师预计今年电信运营商采取另一个涨价成本5 g拍卖附近。去年11月,电信公司将价格提高了20% - -25%。
Bharti Airtel的首席执行官Gopal Vittal最近表示,该公司不会犹豫地带头推动新一轮的关税上调2022年本身,因为它看起来提高ARPU在今年200卢比,最终到300卢比。虽然不太可能增加至少在未来3 - 4个月。
沃达丰的想法,现在是最小的三个私人玩家市场,将,然而,需要谨慎行事。
说:“有两个顾虑马赫什•Uppal电信专家。“如果竞争对手不提高价格,那么这些将成为电信提高竞争力。第二,提高价格来提高ARPU可能赶走顾客和撤销ARPU上升。”
事实上,沃达丰的想法失去了用户去年增加关税。部分分析师将失去用户用户放弃多个SIM卡,价格上涨。
“电信公司希望增加关税,在市场上是可持续的,”Uppal说。
上个月,沃达丰(Vodafone)首席执行官Ravinder Takkar提高关税说,“可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
尽管近期上涨,印度的移动数据的平均价格在0.3美元每GB仍然是全球最低的国家之一,最便宜的数据计划成本仅为0.1美元每GB,给运营商空间进一步提高关税。每GB的价格在美国,中国和韩国是8 - 10美元之间每GB,最便宜的计划成本每GB 0.6 - 2美元之间,数据显示Crisil的研究。
读也
巨额债务
在12月结束,沃达丰的总债务是Rs 1.99十万的卢比,包括Rs 1.76十万的卢比用于印度政府。尽管四年禁令,11300卢比偿还债务在未来的12个月,并将需要外部融资和尖锐的关税上调满足还款,根据野村。
它提供政府价值16000卢比的股权代替一些会费,但尚未说如果电信部门同意的建议。
虽然税率可以帮助沃达丰想法在某种程度上“但不足以扭转业务和防止政府股份进一步增加当后续费支付暂停期结束后,“对位Paliwal说。
沃达丰的想法自2020年以来一直试图筹集资金迄今收效甚微。公司的MD Ravinder Takkar最近表示,预计今年3月之前关闭筹款。
“没有重大的融资,我们认为VI 5 g的网络投资和推广仍将受到限制,至少在短期内,导致市场份额进一步侵蚀,”野村说。潜在的大型股权稀释也被视为消极的任何外部融资。
甚至沃达丰想法的审计师SR Batliboi & Associates在1月份表示,航空公司继续作为一个持续经营的能力取决于它能够筹集额外资金,成功与银行的谈判继续支持和一代的现金流从它的操作。
没有任何其他直接积极的触发,税率仍为载体的唯一途径改善其财务。
“沃达丰的长期健康的想法只会保证筹款。现在当然是更好比以前税率和一些股权转移到政府,“Uppal说。“在很大程度上取决于未来几个月市场和政府做什么”。
<\/span><\/figcaption><\/figure>A glimmer of hope has emerged for beleaguered Vodafone Idea<\/a> that saw its average revenue per user - a key metric - rising for the successive third quarter, even as it continues to post massive losses and faces a debt mountain.
Segmented tariff hikes taken in July last year and a wider increase toward the end of 2021 look to have helped the telecom carrier report a sequential 3% increase in third-quarter revenue, led by a more than 5% increase in ARPU. With expectations of another round of tariff increase this year, the metric will likely improve further. While that is an encouraging sign for the company and its investors amid a flurry of bad news, analysts say fresh capital and resolution of debt issues can only help the company stay afloat.
``These are some positive signs and are likely to roll on to the next quarter as well. But Vi still has a long path to be back on track,’’ says Charu Paliwal, Research Analyst at Counterpoint Research. ``It requires higher capex to close the 4G-coverage gap and compete effectively. Fundraising exercise needs to be concluded soon to be able to make increased network investments.”
To be sure, Vodafone Idea spent a meagre Rs 3,300 crore on its networks over nine months to December, compared with bigger rival Bharti Airtel<\/a>’s Rs 4,600 crore capex spend in July-September quarter alone, according to Nomura<\/a>. Capex spend in the December quarter was Rs 1,050 crore for Vodafone Idea, compared with Bharti’s Rs 6,101 crore.
As operators upgrade subscribers from 2G to 4G and deepen coverage in the nook and corners of a vast geography, they need to regularly invest on networks to provide seamless coverage. Vodafone Idea, with its mounting debt burden and string of losses, has not been able to keep pace, losing subscribers and market share to rivals Reliance Jio<\/a> Infocomm and Bharti Airtel.
ANOTHER TARIFF HIKE?<\/strong>
Analysts expect telecom operators to resort to another price hike this year as costly 5G auctions near. In November last year, telcos raised prices by 20%-25%.
Bharti Airtel’s CEO Gopal Vittal said recently that the company won’t hesitate to take the lead in pushing through another round of tariff hikes in 2022 itself, as it looks to boost ARPU to 200 rupees in this calendar year, and eventually to 300 rupees. Although any increase was unlikely in the next 3-4 months at least.
Vodafone Idea, which is the smallest now in the three private player market, will, however, need to tread carefully.
“There are two concerns,’’ says Mahesh Uppal, a telecom expert. ``If competitors don't raise prices, then the telco raising those will become uncompetitive. And second, raising prices to improve ARPUs might drive away customers and undo the ARPU rise.’’
Indeed, Vodafone Idea lost subscribers as tariffs increased last year. Analysts partly attributed the lost subscribers to users giving up more than one SIM card they had as prices rose.
“Telcos would want a tariff increase that is sustainable in the marketplace,” says Uppal.
Last month, Vodafone Idea CEO Ravinder Takkar<\/a> on raising tariffs said, “It’s possible that there could be another price hike in 2022 but certainly at some point the price hike will take place. The last one was almost 2 years earlier which I believe is a bit long. We certainly would expect less than two years but in 2022 we will have to see how quickly these prices get embedded. Probably, it could be 2023 as well.”
Despite the recent hikes, India’s average mobile data prices at around $0.3 per GB is still one of the lowest globally with the cheapest data plan costing just $0.1 per GB and giving operators headroom to raise tariffs further. The price per GB in the United States, China and South Korea is between $8- $10 per GB, with the cheapest plans costing anywhere between $0.6-$2 per GB, according to data from Crisil Research.
Read also<\/h4><\/a><\/figure>Drop in customer base due to tariff hike, SIM consolidation: Vodafone Idea’s Ravinder Takkar<\/a><\/h5><\/div><\/a><\/figure>Mobile prices may rise again in 2022: Vittal<\/a><\/h5><\/div><\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
ETTelecom Interviews: Vodafone Idea MD Ravinder Takkar on spectrum pricing, availability for 5G<\/a><\/div><\/div>
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陷入困境的出现了一丝希望沃达丰的想法看到它的每用户平均收入——一个关键指标——连续第三个季度上升,即使它继续巨额亏损后,面临着巨额债务。
分段关税上调了去年7月和更广泛的增加对2021年底帮助电信运营商报告连续第三季度收入增长3%,由ARPU增加超过5%。预期今年新一轮的关税增加,指标可能会进一步提高。虽然这是一个令人鼓舞的信号对该公司及其投资者进行一连串的坏消息,分析人士说,新资本,解决债务问题只能帮助公司维持下去。乐动扑克
“这些都是一些积极的迹象,可能会滚动到下一个季度。但六世仍然有很长的路要回到正轨,“说Charu Paliwal,研究分析师对比研究。“它需要更高的资本支出关闭4 g网络覆盖率差距和有效竞争。筹款运动需要总结很快能够增加网络投资。”
可以肯定的是,沃达丰的想法在其网络上花了微薄的3300卢比在9个月到12月,与更大的竞争对手Bharti Airtel4600卢比的资本支出花费仅在7 - 9月一季,根据野村证券。12月季度资本支出花费1050卢比了沃达丰的想法,相比之下,Bharti的6101卢比。
随着运营商用户从2 g升级到4 g,深化报道nook和角落的一个巨大的地理,他们需要定期投资网络提供无缝覆盖。沃达丰的想法,其债务负担和一系列损失,未能跟上,失去用户和市场份额的竞争对手依赖JioInfocomm和Bharti Airtel。
另一个关税上调?
分析师预计今年电信运营商采取另一个涨价成本5 g拍卖附近。去年11月,电信公司将价格提高了20% - -25%。
Bharti Airtel的首席执行官Gopal Vittal最近表示,该公司不会犹豫地带头推动新一轮的关税上调2022年本身,因为它看起来提高ARPU在今年200卢比,最终到300卢比。虽然不太可能增加至少在未来3 - 4个月。
沃达丰的想法,现在是最小的三个私人玩家市场,将,然而,需要谨慎行事。
说:“有两个顾虑马赫什•Uppal电信专家。“如果竞争对手不提高价格,那么这些将成为电信提高竞争力。第二,提高价格来提高ARPU可能赶走顾客和撤销ARPU上升。”
事实上,沃达丰的想法失去了用户去年增加关税。部分分析师将失去用户用户放弃多个SIM卡,价格上涨。
“电信公司希望增加关税,在市场上是可持续的,”Uppal说。
上个月,沃达丰(Vodafone)首席执行官Ravinder Takkar提高关税说,“可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
尽管近期上涨,印度的移动数据的平均价格在0.3美元每GB仍然是全球最低的国家之一,最便宜的数据计划成本仅为0.1美元每GB,给运营商空间进一步提高关税。每GB的价格在美国,中国和韩国是8 - 10美元之间每GB,最便宜的计划成本每GB 0.6 - 2美元之间,数据显示Crisil的研究。
巨额债务
在12月结束,沃达丰的总债务是Rs 1.99十万的卢比,包括Rs 1.76十万的卢比用于印度政府。尽管四年禁令,11300卢比偿还债务在未来的12个月,并将需要外部融资和尖锐的关税上调满足还款,根据野村。
它提供政府价值16000卢比的股权代替一些会费,但尚未说如果电信部门同意的建议。
虽然税率可以帮助沃达丰想法在某种程度上“但不足以扭转业务和防止政府股份进一步增加当后续费支付暂停期结束后,“对位Paliwal说。
沃达丰的想法自2020年以来一直试图筹集资金迄今收效甚微。公司的MD Ravinder Takkar最近表示,预计今年3月之前关闭筹款。
“没有重大的融资,我们认为VI 5 g的网络投资和推广仍将受到限制,至少在短期内,导致市场份额进一步侵蚀,”野村说。潜在的大型股权稀释也被视为消极的任何外部融资。
甚至沃达丰想法的审计师SR Batliboi & Associates在1月份表示,航空公司继续作为一个持续经营的能力取决于它能够筹集额外资金,成功与银行的谈判继续支持和一代的现金流从它的操作。
没有任何其他直接积极的触发,税率仍为载体的唯一途径改善其财务。
“沃达丰的长期健康的想法只会保证筹款。现在当然是更好比以前税率和一些股权转移到政府,“Uppal说。“在很大程度上取决于未来几个月市场和政府做什么”。
<\/span><\/figcaption><\/figure>A glimmer of hope has emerged for beleaguered Vodafone Idea<\/a> that saw its average revenue per user - a key metric - rising for the successive third quarter, even as it continues to post massive losses and faces a debt mountain.
Segmented tariff hikes taken in July last year and a wider increase toward the end of 2021 look to have helped the telecom carrier report a sequential 3% increase in third-quarter revenue, led by a more than 5% increase in ARPU. With expectations of another round of tariff increase this year, the metric will likely improve further. While that is an encouraging sign for the company and its investors amid a flurry of bad news, analysts say fresh capital and resolution of debt issues can only help the company stay afloat.
``These are some positive signs and are likely to roll on to the next quarter as well. But Vi still has a long path to be back on track,’’ says Charu Paliwal, Research Analyst at Counterpoint Research. ``It requires higher capex to close the 4G-coverage gap and compete effectively. Fundraising exercise needs to be concluded soon to be able to make increased network investments.”
To be sure, Vodafone Idea spent a meagre Rs 3,300 crore on its networks over nine months to December, compared with bigger rival Bharti Airtel<\/a>’s Rs 4,600 crore capex spend in July-September quarter alone, according to Nomura<\/a>. Capex spend in the December quarter was Rs 1,050 crore for Vodafone Idea, compared with Bharti’s Rs 6,101 crore.
As operators upgrade subscribers from 2G to 4G and deepen coverage in the nook and corners of a vast geography, they need to regularly invest on networks to provide seamless coverage. Vodafone Idea, with its mounting debt burden and string of losses, has not been able to keep pace, losing subscribers and market share to rivals Reliance Jio<\/a> Infocomm and Bharti Airtel.
ANOTHER TARIFF HIKE?<\/strong>
Analysts expect telecom operators to resort to another price hike this year as costly 5G auctions near. In November last year, telcos raised prices by 20%-25%.
Bharti Airtel’s CEO Gopal Vittal said recently that the company won’t hesitate to take the lead in pushing through another round of tariff hikes in 2022 itself, as it looks to boost ARPU to 200 rupees in this calendar year, and eventually to 300 rupees. Although any increase was unlikely in the next 3-4 months at least.
Vodafone Idea, which is the smallest now in the three private player market, will, however, need to tread carefully.
“There are two concerns,’’ says Mahesh Uppal, a telecom expert. ``If competitors don't raise prices, then the telco raising those will become uncompetitive. And second, raising prices to improve ARPUs might drive away customers and undo the ARPU rise.’’
Indeed, Vodafone Idea lost subscribers as tariffs increased last year. Analysts partly attributed the lost subscribers to users giving up more than one SIM card they had as prices rose.
“Telcos would want a tariff increase that is sustainable in the marketplace,” says Uppal.
Last month, Vodafone Idea CEO Ravinder Takkar<\/a> on raising tariffs said, “It’s possible that there could be another price hike in 2022 but certainly at some point the price hike will take place. The last one was almost 2 years earlier which I believe is a bit long. We certainly would expect less than two years but in 2022 we will have to see how quickly these prices get embedded. Probably, it could be 2023 as well.”
Despite the recent hikes, India’s average mobile data prices at around $0.3 per GB is still one of the lowest globally with the cheapest data plan costing just $0.1 per GB and giving operators headroom to raise tariffs further. The price per GB in the United States, China and South Korea is between $8- $10 per GB, with the cheapest plans costing anywhere between $0.6-$2 per GB, according to data from Crisil Research.
Read also<\/h4>
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- Telecom乐动扑克News
- 5分钟读
沃达丰想法危在旦夕,即使一线希望
上个月,沃达丰想法CEO Ravinder Takkar提高关税说,“这是可能的,可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
读到
分段关税上调了去年7月和更广泛的增加对2021年底帮助电信运营商报告连续第三季度收入增长3%,由ARPU增加超过5%。预期今年新一轮的关税增加,指标可能会进一步提高。虽然这是一个令人鼓舞的信号对该公司及其投资者进行一连串的坏消息,分析人士说,新资本,解决债务问题只能帮助公司维持下去。乐动扑克
“这些都是一些积极的迹象,可能会滚动到下一个季度。但六世仍然有很长的路要回到正轨,“说Charu Paliwal,研究分析师对比研究。“它需要更高的资本支出关闭4 g网络覆盖率差距和有效竞争。筹款运动需要总结很快能够增加网络投资。”
可以肯定的是,沃达丰的想法在其网络上花了微薄的3300卢比在9个月到12月,与更大的竞争对手Bharti Airtel4600卢比的资本支出花费仅在7 - 9月一季,根据野村证券。12月季度资本支出花费1050卢比了沃达丰的想法,相比之下,Bharti的6101卢比。
随着运营商用户从2 g升级到4 g,深化报道nook和角落的一个巨大的地理,他们需要定期投资网络提供无缝覆盖。沃达丰的想法,其债务负担和一系列损失,未能跟上,失去用户和市场份额的竞争对手依赖JioInfocomm和Bharti Airtel。
另一个关税上调?
分析师预计今年电信运营商采取另一个涨价成本5 g拍卖附近。去年11月,电信公司将价格提高了20% - -25%。
Bharti Airtel的首席执行官Gopal Vittal最近表示,该公司不会犹豫地带头推动新一轮的关税上调2022年本身,因为它看起来提高ARPU在今年200卢比,最终到300卢比。虽然不太可能增加至少在未来3 - 4个月。
沃达丰的想法,现在是最小的三个私人玩家市场,将,然而,需要谨慎行事。
说:“有两个顾虑马赫什•Uppal电信专家。“如果竞争对手不提高价格,那么这些将成为电信提高竞争力。第二,提高价格来提高ARPU可能赶走顾客和撤销ARPU上升。”
事实上,沃达丰的想法失去了用户去年增加关税。部分分析师将失去用户用户放弃多个SIM卡,价格上涨。
“电信公司希望增加关税,在市场上是可持续的,”Uppal说。
上个月,沃达丰(Vodafone)首席执行官Ravinder Takkar提高关税说,“可能会有另一个2022年涨价,但肯定在某些时候涨价。最后一个几乎是2年前我相信长了一点。我们当然期望2022年不到两年,但我们必须看到这些价格被嵌入的速度有多快。可能,这可能是2023年。”
尽管近期上涨,印度的移动数据的平均价格在0.3美元每GB仍然是全球最低的国家之一,最便宜的数据计划成本仅为0.1美元每GB,给运营商空间进一步提高关税。每GB的价格在美国,中国和韩国是8 - 10美元之间每GB,最便宜的计划成本每GB 0.6 - 2美元之间,数据显示Crisil的研究。
读也
巨额债务
在12月结束,沃达丰的总债务是Rs 1.99十万的卢比,包括Rs 1.76十万的卢比用于印度政府。尽管四年禁令,11300卢比偿还债务在未来的12个月,并将需要外部融资和尖锐的关税上调满足还款,根据野村。
它提供政府价值16000卢比的股权代替一些会费,但尚未说如果电信部门同意的建议。
虽然税率可以帮助沃达丰想法在某种程度上“但不足以扭转业务和防止政府股份进一步增加当后续费支付暂停期结束后,“对位Paliwal说。
沃达丰的想法自2020年以来一直试图筹集资金迄今收效甚微。公司的MD Ravinder Takkar最近表示,预计今年3月之前关闭筹款。
“没有重大的融资,我们认为VI 5 g的网络投资和推广仍将受到限制,至少在短期内,导致市场份额进一步侵蚀,”野村说。潜在的大型股权稀释也被视为消极的任何外部融资。
甚至沃达丰想法的审计师SR Batliboi & Associates在1月份表示,航空公司继续作为一个持续经营的能力取决于它能够筹集额外资金,成功与银行的谈判继续支持和一代的现金流从它的操作。
没有任何其他直接积极的触发,税率仍为载体的唯一途径改善其财务。
“沃达丰的长期健康的想法只会保证筹款。现在当然是更好比以前税率和一些股权转移到政府,“Uppal说。“在很大程度上取决于未来几个月市场和政府做什么”。
Segmented tariff hikes taken in July last year and a wider increase toward the end of 2021 look to have helped the telecom carrier report a sequential 3% increase in third-quarter revenue, led by a more than 5% increase in ARPU. With expectations of another round of tariff increase this year, the metric will likely improve further. While that is an encouraging sign for the company and its investors amid a flurry of bad news, analysts say fresh capital and resolution of debt issues can only help the company stay afloat.
``These are some positive signs and are likely to roll on to the next quarter as well. But Vi still has a long path to be back on track,’’ says Charu Paliwal, Research Analyst at Counterpoint Research. ``It requires higher capex to close the 4G-coverage gap and compete effectively. Fundraising exercise needs to be concluded soon to be able to make increased network investments.”
To be sure, Vodafone Idea spent a meagre Rs 3,300 crore on its networks over nine months to December, compared with bigger rival Bharti Airtel<\/a>’s Rs 4,600 crore capex spend in July-September quarter alone, according to Nomura<\/a>. Capex spend in the December quarter was Rs 1,050 crore for Vodafone Idea, compared with Bharti’s Rs 6,101 crore.
As operators upgrade subscribers from 2G to 4G and deepen coverage in the nook and corners of a vast geography, they need to regularly invest on networks to provide seamless coverage. Vodafone Idea, with its mounting debt burden and string of losses, has not been able to keep pace, losing subscribers and market share to rivals Reliance Jio<\/a> Infocomm and Bharti Airtel.
ANOTHER TARIFF HIKE?<\/strong>
Analysts expect telecom operators to resort to another price hike this year as costly 5G auctions near. In November last year, telcos raised prices by 20%-25%.
Bharti Airtel’s CEO Gopal Vittal said recently that the company won’t hesitate to take the lead in pushing through another round of tariff hikes in 2022 itself, as it looks to boost ARPU to 200 rupees in this calendar year, and eventually to 300 rupees. Although any increase was unlikely in the next 3-4 months at least.
Vodafone Idea, which is the smallest now in the three private player market, will, however, need to tread carefully.
“There are two concerns,’’ says Mahesh Uppal, a telecom expert. ``If competitors don't raise prices, then the telco raising those will become uncompetitive. And second, raising prices to improve ARPUs might drive away customers and undo the ARPU rise.’’
Indeed, Vodafone Idea lost subscribers as tariffs increased last year. Analysts partly attributed the lost subscribers to users giving up more than one SIM card they had as prices rose.
“Telcos would want a tariff increase that is sustainable in the marketplace,” says Uppal.
Last month, Vodafone Idea CEO Ravinder Takkar<\/a> on raising tariffs said, “It’s possible that there could be another price hike in 2022 but certainly at some point the price hike will take place. The last one was almost 2 years earlier which I believe is a bit long. We certainly would expect less than two years but in 2022 we will have to see how quickly these prices get embedded. Probably, it could be 2023 as well.”
Despite the recent hikes, India’s average mobile data prices at around $0.3 per GB is still one of the lowest globally with the cheapest data plan costing just $0.1 per GB and giving operators headroom to raise tariffs further. The price per GB in the United States, China and South Korea is between $8- $10 per GB, with the cheapest plans costing anywhere between $0.6-$2 per GB, according to data from Crisil Research.
Read also<\/h4><\/a><\/figure>Drop in customer base due to tariff hike, SIM consolidation: Vodafone Idea’s Ravinder Takkar<\/a><\/h5><\/div><\/a><\/figure>Mobile prices may rise again in 2022: Vittal<\/a><\/h5><\/div><\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/a><\/figure>Drop in customer base due to tariff hike, SIM consolidation: Vodafone Idea’s Ravinder Takkar<\/a><\/h5><\/div><\/a><\/figure>Mobile prices may rise again in 2022: Vittal<\/a><\/h5><\/div><\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/a><\/figure>Mobile prices may rise again in 2022: Vittal<\/a><\/h5><\/div><\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
<\/a><\/figure>Vodafone Idea expects another hike in mobile services rates this year<\/a><\/h5><\/div><\/a><\/figure>Tariff hikes may help Airtel beat Jio and Vodafone Idea on revenue share<\/a><\/h5><\/div><\/div><\/div>
DEBT MOUNTAIN<\/strong>
At December end, Vodafone Idea’s gross debt was Rs 1.99 lakh crores, including Rs 1.76 lakh crores to the Indian government. Despite a four year moratorium, it has Rs 11,300 crore debt repayments coming up in the next 12 months, and would need external fundraising and sharper tariff hikes to meet the repayments, according to Nomura.
It offered the government Rs 16,000 crore worth of equity stake in lieu of some dues, but has yet to say if the telecom ministry agreed to that proposal.
While tariff hikes can help Vodafone Idea to some extent ``but not enough to turn around the business and prevent the government stake further getting increased when subsequent dues become payable after the moratorium period ends,” Counterpoint’s Paliwal says.
Vodafone Idea has been trying to raise funds since 2020 with little success so far. The company’s MD Ravinder Takkar recently said it expected to close the fundraising by March this year.
``Without significant fund-raising, we think VI’s network investments and 5G rollout would remain constrained, at least in the near term, leading to further market share erosion,’’ Nomura says. A potential large equity dilution is also seen as a negative for any external fundraising.
Even Vodafone Idea’s auditor SR Batliboi & Associates said in January that the carrier’s ability to continue as a going concern depended on its ability to raise additional funds, successful negotiations with lenders for continued support and generation of cash flow from its operations.
In the absence of any other immediate positive trigger, tariff hikes remain the only way for the carrier to improve its financials.
“The long term health of Vodafone Idea will only be guaranteed post a fundraising. It is certainly better off now than before with tariff hikes and transferring some equity to the government,’’ says Uppal. ``Much will depend on what markets and government do in the coming months”.
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