Vodafone Idea Says Will "Suitably Increase Tariffs" From December 1: Report

Vodafone Idea Ltd (VIL) on Monday said that it will "suitably increase the prices of its tariffs" from December 1.

"The acute financial stress in the telecom sector has been acknowledged by all stakeholders and a high level Committee of Secretaries (CoS) headed by the Cabinet Secretary is looking into providing appropriate relief," the company said.

Mobile data charges in India are by far the cheapest in the world even as the demand for mobile data services continue to grow rapidly, the company said.

Airtel and Vodafone Idea have posted a combined loss of Rs 74,000 crore in second quarter of current financial year by provisioning for the adjusted gross revenue (AGR) pending dues. Vodafone has hinted at not being able to remain as a going concern if relief does not come for the sector.

Vodafone Idea said it is speedily expanding both its coverage and capacity and is well on track to offer 4G services to 1 billion Indians by March 2020.