The debt-ridden telecom sector is witnessing a huge pre-tax loss. The sector’s pre-tax losses stands at Rs 38,153 crore in the 2016-17 fiscal from Rs 1,699 crore in the preceding year, according to Manoj Sinha, Telecom Minister.
The Minister told the Parliament on 28 March, “Based on audited/unaudited information submitted by telecom service sector companies to TRAI, the profit-before-tax (PBT) for the telecom service sector companies has decreased from Rs (-) 1,699 crore for the financial year 2015-16 to Rs (-)38,153 crore for the financial year 2016-17."
He added: "The government ensures healthy competition in telecom sector. Recently, TRAI has reiterated the regulatory principles of non-predatory, non-discrimination and transparency in tariff offers vide Telecommunication Tariff (63rd Amendment) Order, 2018 on February 16, 2018."
Source: http://cablequest.org/index.php/news/telecom-news/item/12580-telecom-sector-pre-tax-losses-touch-rs-38,153-crore-in-2016-17
He added: "The government ensures healthy competition in telecom sector. Recently, TRAI has reiterated the regulatory principles of non-predatory, non-discrimination and transparency in tariff offers vide Telecommunication Tariff (63rd Amendment) Order, 2018 on February 16, 2018."
Source: http://cablequest.org/index.php/news/telecom-news/item/12580-telecom-sector-pre-tax-losses-touch-rs-38,153-crore-in-2016-17
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