Insta
During the fiscal, the internet service provider’s (ISP) revenue in the fiscal hit Rs 180.7 crore compared to Rs 170 crore from the previous fiscal (representational image) (Photo by Michael Bocchieri/Getty Images)
Broadband service provider, You Broadband India, has slipped into the red zone, reports the Television Post. The Vodafone Idea-owned broadband service provider has posted a net loss of Rs 25.7 crore in the fiscal ending in March 2018, against a net profit of Rs 20.3 crore in the previous fiscal.
During the fiscal, the internet service provider’s (ISP) revenue touched Rs 180.7 crore compared to Rs 170 crore from the previous fiscal. This data comes from information the company had provided to Crisil, a rating agency which later withdrew the rating on the short-term bank facilities of the ISP. The company requested removal of the ratings since they had not utilised the facilities.
In June 2017, Vodafone India entirely acquired You Broadband, and in 2018 they became India’s largest telecom company, in terms of revenue and subscribers by merging with Idea Cellular.
According to an earlier Crisil report, You Broadband will get strong support from Vodafone to scale-up operations and generate healthy operating margin. You Broadband, which deploys fibre-to-home technology, is of strategic importance to the Vodafone-Idea merged entity.
Crisil, in its report, stated that the large customer base of Vodafone facilitates opens doors for cross-selling options for You Broadband, resulting in reducing the costs of new customer acquisition and better negotiations with lenders and vendors. Further, it also enables significant capital expenditure synergies. The products of You Broadband are also sold through an extensive network of Vodafone store, bringing in strong distribution partnerships.
You Broadband was integrated in 2001, and since then has been providing broadband services to home retailers as well as small and medium-scale enterprises in over 18 cities in the counter. You broadband, as of August 2017, had 6.6 lakh customers.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest