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Q3 results of telecom companies to see impact of MTC cut: Reports

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New Delhi, Jan 2 (IANS) Indian telecom companies are still not out of the woods in terms of revenue recovery led by the onslaught from Jios free and aggressive tariffs; also, the cut in mobile termination charges (MTC) would have impacted third quarter balance sheets, Bank of America Merrill Lynch said in a report.

“We expect the 3Q (third quarter) numbers for Bharti/Idea to be impacted by interconnect (IUC) rate cut and continued down-trending by consumers to low priced plans. Unlike last quarters, we do not expect any major surprises in cost-control initiatives as the IUC rate cut largely masks it,” the report said.

Similar concern was also echoed by a report of Kotak Institutional Equities. It said: “3QFY18 is likely to be another weak quarter for the Indian wireless names. 57 per cent cut in mobile termination rate, effective October 1, 2017, is likely to impact Bharti’s and Idea’s India wireless EBITDA (earnings before interest, taxes, depreciation, and amortization) by around 8 per cent and 11 per cent (on 2QFY18 base), respectively.”

“Our math suggests that mobile termination contributed to as much as 14-15 per cent to Bharti’s India wireless revenues and a similar proportion to the segment’s EBITDA in 2QFY18. A 57 per cent cut in MTR (mobile termination rate), ceteris paribus, should result in around 8 per cent sequential dip in India wireless revenues for Bharti.

“For Idea, the contribution to revenues and EBITDA in 2QFY18 was 14-15 per cent and 20-21 per cent, respectively, per our math,” it added.

Bank of America Merrill Lynch report further added: “We expect continued tariff hikes by Jio to help Indian telco stocks as the negative operational leverage would turn into positive operational leverage.”

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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